In 2014, sales of new and existing homes were lackluster, but the homebuilders, contractors and suppliers who attended the National Association of Home Builders’ International Builders Show earlier this month in Las Vegas were optimistic about homes sales–and new home starts in 2015.
The government is making it more affordable to buy a first home. The policy changes for FHA, Fannie Mae and Freddie Mac could make government-backed home loans less costly for first-time homebuyers to come up with a down payment or afford private mortgage insurance.
The government recently announced that the premium that borrowers with FHA-backed home loans have to pay for mortgage insurance is dropping to
Mortgage rates have dropped in the last few months of 2014, and home loan costs now are .375 percent lower than December 2014′s highest rates, according to Mortgage News Daily.
But nothing lasts forever. By the end of 2015, resale home and new home mortgage rates could rise to nearly