The Federal Reserve meets soon for its regular meeting but all expect no action such as drops in rates. The 3 points plus over recent time seems to be it for now. Mortgage rates fluctuating but on an upward trend.

FHA soon to implement "Risk Based Mortage Insurance". This shouldn't make FHA unattractive as an option to buy  but it will make it ever so slightly more costly if credit scores are in lower ranges. (alsways contact me about 'credit scores' if you have questions. RISK BASED MI will not be any big factor- in my opinion - as to NOT going with FHA. By far FHA allows the best options for great rates and terms (long term 30 year type loans) and no pre-payment penalties.

Also, credit tolerance is still better using FHA than conventional financing. MORE REASONS to go fha? Seller can pay up to 6% toward buyers closing costs & pre-paids (i.e.insurance, escrows), they can even pay the BUYERS DOWN PAYMENT! Using a down payment assistance  program a buyer can still buy with zero down!

Here in SW FLA the buys are still strong. I hear, and agree with, a solid 30 to 40% below value. Let's simplify that with this mental picture: if you were given a 1/4 acre lot for FREE and just called up a supply outlet and paid for the materials, and then if you said the magic words of "presto chango " and the materials miraculously assembled themselves, you would spend more than what you can buy  a house for now. The steals take a little patience as they involve dealing with banks that can't get out of their own way when trying to sell.

The horror stories of trying to close on a bank owned property or SHORT SALE are many, but the rewards incredible. 

Still never been a better time for buyers, whether baby boomers (who can buy and likely have the rent cover the house till retirement) to young fmailies - even singles in condos, the cost is so low as to make them affordable again. Unlike 3 years ago. 

More news as the time allows to updates but ready to share thoughts any time with any one out there! 
Vince