June 17, 2013
On Wednesday, we’ll have the results of the Fed Meeting which is sure to influence mortgage rates as traders wait for clues as to what the Fed plans to do with quantitative easing. It is not anticipated that the Fed will make any changes to the Fed Funds rate at this meeting. Ben Bernanke will...
June 14, 2013
Do you or someone you know want to learn more about the home buying process?
Jim Reppond from Coldwell Banker Danforth and I will be instructing a free home buyers class on Saturday, July 20th at the Green Lake Library.
This...
June 13, 2013
This week I’ve been away from my blog more than I like to be…it’s for good reason. I’m training my new assistant, Crystal. Crystal is not a licensed loan officer, so she cannot help with providing rate quotes or take your loan application. She’s great help with my marketing and assisting with transactions that are in process. Welcome, Crystal!
I thought I was attempt to share some of the quotes I’m providing in “real time” to give you...
June 10, 2013
Mortgage rates have been moving higher over the past few weeks. The better than expected data from last Friday’s Jobs Report helped that trend.
There’s not a lot of scheduled economic indicators on calendar for this week so you can expect rates to be impacted by the stock market....
June 6, 2013
Mortgage rates have been moving higher causing some home buyers and rate shoppers a bit of surprise. Mortgage rates have been trending up with hints of QE3 and the Fed’s bond buying program, which has kept mortgage rates at artificial lows, may be wrapping up soon. Freddie Mac reports that the 30 year fixed is at 3.91% when paying 0.7 points and if not points are paid, the rate is 4.09%. Keep in mind that the rates Freddie has posted today are from last week and rates have continued...
June 3, 2013
Mortgage rates have been trending higher, catching some home buyers and home owners waiting for a much lower rate off guard. Will that trend continue? We have the Jobs Report being released this Friday and if it comes in significantly weaker than expected, we may see rates improve. Historically...
June 1, 2013
I’m often asked by home buyers “does my preapproval letter expire” or “what happens if we don’t find a home in a few months”. Preapproval letters should include two dates: when the letter was prepared and when the preapproval expires. Fear not, most of the time,...
May 31, 2013
I will be teaching a home buyer education class on Saturday, July 13, 2013 at the High Point Library in West Seattle.
This class is sponsored by the Washington State Housing Finance Committee. Class participants are eligible for the programs I’m able to offer through the WSHFC, like...
May 29, 2013
Last month I read an interesting article from Coldwell Banker about couples who are buying homes together before they get married. A survey was conducted which ”revealed that 1 in 4 young couples...
May 28, 2013
We are back to work following the Memorial Day holiday and mortgage rates are trending higher this morning. Mortgage interest rates are still at historically low levels, however they are off their extreme lows.
Yesterday, markets were closed in observance of Memorial Day. Here are some of the...
May 23, 2013
I recently met with clients who have saved $100,000 to use for down payment and closing cost for a home in Bellevue. They easily qualify for the mortgage payment with their combined incomes and the both have excellent credit with scores of 740 or higher. They are most interested in seeing what...
This morning, mortgage rates continue to take a hit from yesterday’s comments by Mr. Ben Bernanke before and after the Fed minutes were released.
Prior to the minutes being released, it seemed as though Ben was letting the cat out of the bag by eeking information regarding the economy, QE3 and the...
May 21, 2013
Hot off the press! I wrote my latest Guide Book for people who have had a short sale or foreclosure and are considering buying their next home. The media has coined these home buyers as "boomerang buyers" because many are returning to buy a home again.
If you know someone who has had a...
May 20, 2013
There was no economic data released today or scheduled for Tuesday.
On Wednesday, we'll have the minutes from the last Fed meeting which may cause rates to move based on the clues found in the minutes and how bond traders interpret them.
Here are the economic indicators scheduled...
May 19, 2013
I'm in the process of moving my blog to a new host. We're experiencing a few hiccups and should be back to "normal" soon.
Thank you!
May 14, 2013
Last week I shared how it's pretty much mandatory that if you are a home buyer making an offer on a home located in the greater Seattle area, you better be equipped with a strong preapproval letter from a reputable lender.
Some home buyers are taking this a step further and requesting a Loan Commitment Letter from...
May 13, 2013
Mortgage rates, although still very low, are trending higher this morning following stronger than expected Retail Sales data and concerns over the Fed ceasing QE3 sooner than expected. In addition, the stock markets...
May 10, 2013
Recently one of my out of state clients who is looking to buy an investment home in Seattle asked "Is it necessary in Seattle to get preapproved?"
The short answer: YES! Unless you're paying cash! And if you are paying cash, be prepared to show the listing...
May 6, 2013
Insider Mortgage Finance recently posted this teaser indicating that President Obama is pushing for the eligibility dates for HARP 3.0 to be...
This week's calendar is looking a little light as far as scheduled economic indicators which may influence the direction of mortgage interest rates.
Thursday, May 9: Initial Jobless Claims
Wow.... that was exciting!...
May 3, 2013
Typically on the first Friday of every month, the Bureau of Labor Statistics releases the Employment Situation Summary, otherwise known as The Jobs Report. This report details specific employment trends, including how many Americans...
May 2, 2013
I received this email from one of our subscribers:
"...with a VA mortgage, can you finance buyer closing costs in excess of the purchase price (e.g. not ask for seller financing contributions, but just borrow them in excess of the purchase price)"
With a VA...
May 1, 2013
The Fed just wrapped up their two day meeting and have issued their press release. Here are the tid-bits relating to keeping mortgage rates at artificially sweet and low levels.
To support a stronger...
Borrowers not wanting to have FHA mortgage insurance as part of their mortgage payment for the life of the loan have about thirty days to take action. This shouldn't be a reason to panic....