A lot has happened in the past 30 days.  FHA is under going some huge changes.  One of the biggest is a new program called FHA Secure.  It will allow people with ARM's (Adjustable Rate Mortgages) to refinance their loan if they were current with their payments during the ARM period prior to an adjustment.  In addition, the federal reserve just lowered their rate by 1/2 point.  This doesn't necessarily translate into a drop in long term mortgage rates, but will in the short term rates such as lines of credit and other debt instruments tied to the short term lending rate.

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