Finally, after more than five years of tight mortgage requirements following the financial crisis in 2008 and the resultant real estate crash, we are starting to see things loosen up a bit. Mortgage rates have dropped significantly in the last few months. FHA will no longer be charging a full month’s interest at closing when a loan is paid off. FHA mortgage insurance premiums dropped a whopping 50 basis points as of today. And now, Fannie Mae and Freddie Mac are re-introducing 3% down conventional financing. The Times had a great article about the new programs yesterday, click here to read the full text. And if this makes you want to jump off the fence and into the real estate market, call me!