News

As you know, the mortgage industry has changed a lot over the last few years.We do our best to stay on top of all the changes in the industry so that we can serve you better.

Top Stories

• THE END OF THE EASY HOME OWNERSHIP ERA

  The US government is today and over the coming 2 years going to either reform or eliminate Fannie Mae and Freddie Mac. What this means to the general public is hard to predict. However, what is easy to predict is that the change will be dramatic and greatly alter who can buy a home.

  Sadly, the near financial collapse of the banking industry in 2007 needed the government to save it and prevent a 2^nd Depression. Although this appears to have worked so far, one of the definite consequences will be the end of easier home financing for Americans. We have already seen the tightening of loan credit approval standards, increased documentation requirements, and yes, the inevitable increase in disclosures (otherwise known as “paperwork”).

  If home ownership is no longer a national goal, our financing products are sure to change greatly as we have already seen in just the past 3 years. Many proposals are now being made and discussed by our government leaders and banking industry leaders. Some believe the 30 year fixed loan will disappear and be replaced with adjustable rate loans. Others believe that fixed loans will survive but require high down payments and have higher rates or shorter terms. Some proposals are so extreme we may become a nation of renters. Regardless of how it ends, it will definitely not be as good or easy as we have had for over 70 years.

  But you should know we are here to help you and guide you through these trying times.

  Home buying: Most affordable in decades

  30-year mortgage holds at record low

  Jobless Rate drops to 8.3%

  Obama Proposing Home Loan Relief

  Obama Refi Details: FHA 'Streamline' Refis More Accessible

  Refinancing Gets Even More Attractive

  Top 10 Home Improvements That Pay You Back

  Is Now The Time For A Young Person To Buy A Home?

   

• AWARDED BEST OF TAUNTON
  
  Diamond Mortgage Services received the Best of Taunton Mortgage Brokers Award recognizing service to their customers.

 

Websites To Keep You Informed:

• Current Bond Information.
  
  
• US Dept Housing and Urban
   Development Income Limits
  
  
• Wall Street Journal Online
  
  
• CNBC
   
• Boston.com-Local Real Estate and Mortgage Information
  
  
• About FHA Loans