Yeah…. For Buyers Who Bought Last Year

1. Yeah….For Buyers Who Bought Last Year It is not exactly a trend, but for the second-straight month, U.S. home prices saw year-over-year gain. Excluding distressed sales, prices rose 2.6%. Prices have not been up two months in a row since June 2010, when the home buyer tax credit was in force. June 5, 2012

2. Energy Efficient Mortgage • It is available as an add-on to VA and FHA loan products, including 203K, for home purchases and refinances. • It allows a borrower to get an additional 5% of the home price (capped at $8,000 for FHA and $6,000 for VA loans) to finance energy efficient improvements. • The beauty of the additional funds is that the additional debt incurred in your monthly payment is excluded from your qualifying ratios. The logic is that what will be saved in electric/heating costs will be more than the increased mortgage payment. • Logistically, your lender will require an independent certification of projected savings prior to closing, and they will hold the monies in escrow, until the work is completed and inspected. Otherwise, it is a fairly simple program that doesn't alter your required documents or qualifications. • Some of the more typical uses for the money are: replacement windows and doors, increased insulation, upgraded oil burner, conversion to gas heat, central air, sun lights, small solar panels, even energy saving appliances.

3. Buyers Beware…Buy Now! Robert Shiller, told CNBC Tuesday (June 5, 2012): “We have encouraging signs in the market, we are seeing some signs of hope.”

4. Looks Like The Time To Buy Average mortgage rates in the U.S. fell over the past week, with fixed mortgage rates reaching new lows, according to mortgage-finance company Freddie Mac. Freddie Mac Chief Economist Frank Nothaft said fixed mortgage rates reached record lows for the sixth consecutive week as U.S. Treasury yields declined further following downwardly revised economic growth and job creation data. June 7, 2012