Joe Pisa

Mortgage Rates Drop to 2-Week Lows

Joe Pisa | February 7, 2017
Mortgage rates moved lower today as investors sought safe haven from global political risk in the bond market.  When investor demand for bonds increases, rates generally fall, all things being equal.  Today's…

MMG Weekly: Report Card in for 2016 Housing, GDP

Joe Pisa | January 27, 2017
Last Week in Review "Turn this house into a home." Luther Vandross. Existing Home Sales and New Home Sales followed a similar path downward in December. But the latest housing…

FHA is reducing its annual mortgage insurance premium

Joe Pisa | January 17, 2017
FHA is reducing its annual mortgage insurance premium (MIP) by 25 basis points for most new mortgages with a closing/disbursement date on or after January 27, 2017.  New MIP rates…

Purchase Apps Surge, Driven by Jumbos

Joe Pisa | November 23, 2016
Purchase mortgage application activity picked up significantly during the week ended November 18.  The Mortgage Bankers Association said its Market Composite Index, a measure of application volume, increased 5.5 percent on…

HomeReady™ or Home Possible?

Joe Pisa | November 16, 2016
Fannie Mae’s HomeReady™ and Freddie Mac’s Home Possible® loan products share some similar advantages, including secondary financing that can provide up to 105% CLTVs. However, there are some differences –…