Mortgage Rates March Higher

Freddie Mac released their Prime Mortgage Market Survey today showing mortgage rates continuing to trend higher.


The PMMS report is based on an average of conforming rates from last week. This is the seventh consecutive week that mortgage rates have moved higher based on this report.

Historically, our rates are still very low. Don’t believe me? Check this out.

If you’re considering refinancing and want a 30 year rate under 5 percent, I recommend getting started. If I can help you with your home purchase or refinance on homes located any where in Washington state, please contact me.  Click here for a no-hassle mortgage rate quote.

Got Bonus? Part 2: Stocks

On Part 1 of Got Bonus, I covered how lump sum cash or increases to salary are treated when it comes to qualifying for a home mortgage loan. In this post, I’ll address how bonuses that are in the form of company stock are treated by lenders. [Read more…]

Got Bonus?

The Seattle Times announced yesterday that Boeing employees will be receiving a record $600 million in bonuses starting next week. From the Seattle Times:

“Boeing’s nearly 66,000 current employees in the state will be eligible for the bonuses. More than 6,000 more who worked at least part of last year before leaving the company will get a partial bonus, prorated according to how long they worked last year.” [Read more…]

Mortgage interest rates moving higher

This morning, Freddie Mac released their weekly report on the direction of conforming mortgage rates. The graph from the Prime Mortgage Market Survey is quite telling. Mortgage rates have been pushing higher for the last 6 months. As the economy improves, it would be likely to see rates continue in this direction.  The 30 year fixed is up 0.44 in rate from the low of 3.78 recorded in September 2017 and has not been reported this high since last March.  Click here for quote with current mortgage rates.

 

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eBook: Your First Home Mortgage

I have just updated my guide on how to finance your first home.

If you’re thinking about buying a home located anywhere in Washington state, even if it’s a couple years away, I am happy to help you! You really cannot start the preapproval process too soon. If I can help you, please contact me.

NEWS FLASH: Mortgage Master now offers Bridge Loans

I’m pleased to announce that Mortgage Master Service Corporation is once again, offering bridge loans to our clients. A bridge loan allows a home owner to tap equity from their current home for down payment on their next home before their current home has sold.  With a bridge loan, there are no monthly mortgage payments and the interest that accrues is paid off at the closing of the buyer’s listed home. [Read more…]

Mortgage Rates improved last week

Freddie Mac’s Prime Mortgage Market Survey (PMMS) was released this morning showing that mortgage rates dropped last week.  RATES POSTED BELOW ARE EXPIRED. Click here for a mortgage rate quote with current rates for your Washington home.


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NEW! WSHFC now allowing Non-Traditional Credit

The Washington State Housing Finance Commission (WSHFC) is now allowing borrowers without established credit (aka “non-traditional”) to qualify for a mortgage.

Here are some of the requirements: [Read more…]