Diamond Mortgage Blog

As of yesterday the month Mortgage Insurance (MI) for FHA loans have increase to to 1.15% each month. The Treasury has said that they will slowly back out of buying Mortgage-Backed Securities (MBS). 

With this move FHA loans have gone up in payment by $30 a month and it also lowers buyers purchasing power. I am not sure if this was the best move by FHA administration because we still need to keep people encouraged to purchase homes, which will keep the economy moving forward. 

What I think is that the government want investors to get back involved in buying these MBS, which will bring back the stated loans. The government is moving to fast in weaning us off. But the government has a lot of issues its battling.

Their are great investments out there. Give Diamond Mortgage Lending a call 818.837.0073  Nevin McGee