Las Vegas Mortgage News

A U.S. congressman from New York has introduced a bill that would allow the federal government to keep insuring mortgage loans of up to $729,750.

The temporary loan limit expires on October 1 and would revert to $625,500.

The legislation proposes to extend the limit until Oct. 1, 2013.

Read full article at realtor.org

Both fixed mortgage rates for a 30-year loan and a 15-year loan dropped this week, down to 4.51% and 3.65% respectively.

Despite the dip, 4.51% isn't the lowest rate the 30-year loan has gone in 2011. However the rate for a 15-year loan dropped to its lowest point.

Read original article:
http://www.msnbc.msn.com/

Fannie Mae says that investors can get money on their purchases almost immediately instead of waiting 6 months.

Great news for investors buying short sales! In the past Fannie Mae has required a six month seasoning period between the time a property is bought and the property is refinanced with cash-out.  As of a June 28, 2011 Fannie Mae announcement refinancing can take place within that six month window if the deal was first transacted without a mortgage and the source of funds used can be documented, the refinance is within proscribed LTV and other limits, and all other cash-out requirements are met.

Read full article at rewealthcoach.com

At least according to the Yahoo! Finance list of top 15 worst housing markets that excluded Las Vegas.

Analysts put together a list of the top 15 cities with a bad housing market forcasted for the next five years. Las Vegas isn't mentioned, not even as a whisper. Miami tops the list as the worst place to invest between now and 2016.

Other unhonorable mentions include:

This list ought to raise a few eyebrows. Thoughts? Comments?

Find this article at: lvrj.com/business