Rates
Well after everything was said and done for the government, rates improved over the last couple of day, but mainly the improvement was to levels we say BEFORE this mess started to happen.
But what this mess has done for rates is prevented them from rising anymore due to the fact that this government shutdown and taken it toll on the economy.
Job growth was prevented, stocks slide, people were without any money due to lost wages.
AND the fact that the Congress just kicked the can down the road until January 15th.
Which means that the Federal Reserve more than likely will not reduce its QE3 program until sometime in late February to Early March.
So this means we should see rates pretty stable for the next 4-5 months. I wouldn’t say they will improve much, it would take quite a bit of really bad economic news to cause rates to sink much more.
So at this time we are playing a neutral stance on locking.
Home Owner’s Exemption
Idaho announced the HOE for 2014, and for the 1st time in 3-4 years the HOE has risen to $83,920 for 2014, for primary residences.
But this also mean that home value are going to go up as well, so the HOE increase that people will see will be sucked up by the increase in home prices. The government giveth and the government taketh away!
Kuna last 1 more day
Kuna RD is golden, well atleast until January 15th, AGAIN, extended.
And could be extended again depending upon the next budget or if Congress decides to pass the farm bill.
Idaho Housing First Loan PLUS
If you haven’t head IHA new First Loan PLUS loan is fricken NUTS!!!!!
96.5% first down to a 620 FICO score
2% GIFT money, yes GIFT, FREE, no pay back!
1.5% 2nd mortgage, as long as they have a 620 FICO score
AND!!!!!
IHA will pay .5% of the buyer’s closing costs!
This is an AMAZING LOAN!!!!