FHA purchase money mortgage endorsements for November 2008 was 78,824 units. This was a large decline from October when FHA endorsed 107,357 purchase mortgages. This decline in FHA purchase endorsements is partially a seasonal adjustment. Another contributor might be that as of October, seller assisted down payment assistance through a non profit organization is no longer eligible for FHA mortgage insurance.
Soon we might be asking "where is DAP ... now that we really need them?"
Chicago PMI increases in April
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