About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

A new report from PMI Mortgage Insurance Co. is predicting that for as much as 85% of the country housing prices will be lower in 2011 than they were at the start of 2009. See an article on the subject over at Housing Wire. Here is a quote from an economist at PMI:

“Rapidly rising foreclosure and unemployment rates, continuing declines in house prices, and weakening consumer demand all worked to increase risk in the general economy, and the housing market specifically,” Berson says in a statement today. “As a result of the continued weakness in prices, and the relatively low level of interest rates, improvements in affordability across the nation’s MSAs will continue to incentivize repeat and first-time homebuyers back into the market.”

If you still have equity in your home and need to refinance out of a bad loan or need cash out to pay off other debts it may be wise to contact us now before housing prices drop further.

Comments (0) Posted by G.R.A. Admin on Tuesday, July 7th, 2009

You can follow any responses to this entry through the magic of "RSS 2.0" and leave a trackback from your own site.

Post A Comment