Posts by Josh Call

Median Vs. Average…and the winner is?

Median Price Vs. Average Price Often times in real estate statistics, we refer to median price and average price.  So which is better? To arrive at the average price, one would take the sum of the values and divide it by the number of prices being analyzed. This would give you the average. Median price would be the number where half the numbers are lower and half the numbers are higher. In Real Estate, that means the median is the price where half the homes sold that month were less expensive and half were more expensive. Below are 2 examples
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FHA Reduces Mortgage Insurance Premiums

Effective January 26, 2015 FHA recently announced a reduction of 50 basis points (0.50%) on all new 30-year loans, making homeownership more affordable. This is the first time we’ve seen a reduction in MIP (mortgage insurance premium) since 2001. FHA is not a mortgage lender; it’s a mortgage insurer. Just like most insurers, the FHA collects payments known as premiums to fund the claims it pays to lenders. FHA mortgage insurance premiums are split into two categories: Upfront Mortgage Insurance Premium (UFMIP). UFMIP is paid up front at closing, equal to 1.35% of the loan. A $100,000 loan would have
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