Today, HUD has announced their intention to
Lower the Up Front MIP from 2.25% to 1% AND Increase the Annual (monthly) MIP From .50 – .55% to .85 – .90% depending on LTV
on loan terms greater than 15 years.
 
This is scheduled to be effective for case numbers issued on October 4th, 2010 pending being signed by our president.
 
The results of this change is:
 
Assuming
$100,000 base loan
 
UFMIP
$101,000 using the new MIP in the mortgage amount 
$102,250 using the old MIP in the mortgage amount
 
Annual MIP
$909.00 ($75.75 Monthly) New Annual MIP based on $101,000
$562.38 ($46.86 Monthly) Old Annual MIP based on $102,250
 
At 5% 30 years assuming 96.5% LTV
 
$617.94 New
$595.76 Old
 
A borrower will need an estimated $75-80 more in monthly income or $900 more per year to qualify per $100,000 in loan amount.

On the surface, it seemed almost a quiet week in the investment markets. Beneath the surface, however, American investors were uncertain of how to respond to various economic indicators but global investors were still attracted to the safe haven of Treasury securities. In foreign exchange markets, contrary to the usual pattern, global investors elevated the euro’s value against the dollar. The Dow Jones Industrial Average (DJIA) managed a 1.79% gain on the week, a remarkable show of resilience in the face of an unfavorable employment report on Friday.
FOCUS ~ The July Employment Report raised a great many questions without offering answers. Why, for example, did the DJIA, after immediately reacting to the poor employment numbers with a 1% decline, regain all but 21.42 points at the end of the day? Why, on the other hand, did the 10-year Treasury security, which started the day at 2.916%, fall all day without respite, ending Friday at 2.826%? Different elements of the market were acting in diverse ways, telling us little except that investors are extremely undecided about where stocks and bonds and other investments will go in the future.
Possibly more obvious has been the significance of the euro’s movement against the dollar. The dollar began Monday at $1.3033 to the euro, and ended the week at $1.3293, suggesting that even though the DJIA may still be resilient, investors over the world are slightly wary of the American economy at this point. Major investment houses, had already begun signaling a lack of confidence in America’s economic growth late the prior week, reversing recent policy and moving funds into Treasury securities, apparently expecting interest rates to fall even further.
The one point that the week’s action in the markets makes clear is that, at this moment, intense uncertainty among investors has led to very low rates, a good deal lower than many analysts had predicted.
Mortgage rates, as a result of the uncertainty, are remarkably attractive, with the Freddie Mac average 30-year rate falling to 4.49%, its lowest level ever. Hopefully, there will be more definitive answers to the questions raised by the current market very soon.

Economic summary content © 2010 Right Side Marketing – taken from Mortgag Partner Ramzy Sabbara

This unusual looking home comes from Mount Fuji Architects Studio and is located in Tokyo, Japan. It was built for a couple in a residential area of the city, even though the architecture manages to separate the project from its urban environment. A first noticeable particularity is the fact that the ceiling is not leveled. One step inside and one can see the reason behind this unique design. Right in the middle of the home there is a giant cylinder resembling a tree stem. Towards the ceiling, this structure begins to fade out turning into a spiral shape, which explains the form of the interesting looking ceiling. The interiors are based on the “Cartesian coordinates system” and have well defined geometrical features. We think the window that the column forms at the beginning of its “transformation” looks highly original, from inside as well as from an exterior angle.-via Arch Daily

This beautiful beach house is located in the vicinity of a famous surfing spot, close to Slaughterhouse Beach, Maui and was designed by Olson Kundig Architects . The landscape looks amazing and at a first glance the pictures could give the impression that perhaps the construction is not real. The unusual building is said to take the concept of a surfing hut forward and combine its traditional features with a contemporary way of living. Here is more from the architects:”The structure’s walls are constructed from rammed earth. In this process, different local earth-based mixtures are packed together, and the resulting striated layers are visible both inside and outside the building. The walls blend in with the surroundings, are low maintenance, virtually fireproof, and a strong barrier to sound.” Three “huts” were combined in order to complete this residence, each with their well defined purpose: living space, guest rooms and a general sleeping area. Enjoy the photos!

Taken from freshome

We’ve seen so many incredible displays of design and architecture from A-Cero that now our expectations (and probably your as well) are getting  higher and higher when it comes to a company with such an amazing portfolio. So far it seems that the architects at A-Cero live up to their prestige and their latest residential project stands as a solid proof. The Concrete House II is a family project located in Madrid and stretches over a surface of no less than 1.600 square meters. The first impression when seeing its unusual architecture with gray concrete and vegetation ramps is that you are looking at an bunker entrance. The facade reveals large windows and uncommon shapes. The roof ensures this home’s ecological features as it contains solar tubular collectors, making this residence a sustainable project.  The site also includes a beautiful garden and a picturesque lake which complete the “dreamy” image that this home inspires.

posted from Freshome. com.

For great modern and contemporary homes for sale in San Diego call me, Seth O'Byrne at 858.869.3940 cell or email at sethobyrnesd@gmail.com

Have a great week and I look forward to seeing you soon!

Make it a Great Day!

Seth O'Byrne
O'Byrne Real Estate Consultants
Realtor, California License # 01463479
858.869.3940 cell 951.848.6285 fax
web -   troopsd. com
blog -   sethobyrne.wordpress. com
group – wealthinnetworking. org