Mortgage interest rates during the past month remained surprisingly quiet -- surprising because this was supposed to be the period when rates were expected to rise, according to various experts.

In general terms, fixed-rate 30-year loans were in the low 7-percent range -- an attractive rate by standards of the past few years. Adjustable-rate mortgages -- ARMs -- have had start rates which dipped below 6 percent. ARM interest levels can rise, however, which means both rates and monthly payments for such loans can go up. Because fixed-rates remain low, such financing is widely seen as a better alternative than ARMs at this time.

Not only is financing attractive in terms of homebuying, it's also enticed a large number of homeowners to refinance. One result has been a flood of loan applications and in some cases longer processing times.

Does FHA Owe You Money?

The Federal Housing Administration -- the FHA -- is the big federal agency which has insured loans for millions of homebuyers nationwide. Under the FHA program, you can generally buy with 3 percent down and liberal qualification standards.

Some of the FHA insurance money, however, is actually owed to borrowers -- refunds that in total are worth several hundred million dollars. Borrowers were supposed to receive the money once their loans had been re-paid, but with changing addresses and a failure to open mail from Uncle Sam, thousands of refunds remain outstanding.

Does the government owe you money? Not every FHA borrower is entitled to a refund, but if you've borrowed under the program you should check with the federal agency. There's no cost to find out, just call 1-800-697-6967. To check your refund status you'll want to have the address of the property that was financed and the FHA mortgage identification number.

Will The Energy Crisis Impact Homeownership?

Blackouts in California and possible energy shortages elsewhere have raised a basic question: Is there financing out there which favors homes with reduced energy costs?

Utility bills are an expense, part of what it takes to own a home. But the good news about energy costs is that they can be off-set by reduced usage (adjust the thermostat), routine household maintenance (change furnace filters regularly), and improvements over time (buy more efficient appliances, furnaces, air conditioners, and hot water heaters).

Interestingly, there are "energy-efficient mortgages" or EEMs. Such loans can be used to buy or refinance qualifying homes -- those with low energy usage. The idea is that lower utility bills mean borrowers can qualify for larger loans. Bigger loans, in turn, can be used to upgrade homes or buy more expensive properties. If you'd like more information, please call me regarding EEMs and other forms of innovative financing.

"Boomburbs" Now Part Of The Landscape

There's nothing like a new catchword to liven up the real estate industry, so meet the "boomburb."

According to the Fannie Mae Foundation, a "boomburb" is an area that has more than 100,000 residents and has maintained double-digit rates of population growth in each recent decade -- but is not the largest city in its metropolitan area. Boomburbs almost never have a dense central business area. Instead, their housing, retail, entertainment, and offices are spread out and loosely configured.