Freddie Mac PMMS “Lower than expected” Mortgage Rates!

feb 4 pmms
This morning Freddie Mac released their weekly Prime Mortgage Market Survey report with a title that I couldn’t agree with more: “Lower-than-expected mortgage rates offer refinance opportunity“.

Mortgage rates are the lowest they have been in about 10 months, or since April 30, 2015 according to the PMMS. This is largely due to ongoing volatility in the markets.

HOWEVER… we have the JOBS REPORT  being released tomorrow morning. The Jobs Report as the potential to dramatically impact mortgage rates for better or worse. So if you’re considering refinancing and you don’t like to gamble, you may want to start your refi application ASAP so you can lock in today’s low rates before the Jobs Report is released 6:30 tomorrow morning.

You may be a candidate to refi if you want to:

  • lower your mortgage rate;
  • lower your monthly payment;
  • eliminate mortgage insurance (private of FHA)
  • reduce your mortgage term;
  • pay off a second mortgage or home equity loan;
  • take cash out (to pay off debts, make home improvements, etc.)

Today’s low rates may bounce up at any time with how volatile the markets are. And as Freddie Mac’s PMMS states, our current very low mortgage rates are very unexpected.

I am happy to help you with your refi or home purchase for your property located anywhere in Washington state. :)  Click here for a no-hassle rate quote.

NHF Grant Platinum Program to be suspended

2013-03-07_0746Well it looks like the National Homebuyers Fund Platinum  will be suspended as of February 29, 2016. The lender backing this grant program will no longer be accepting new loans.

If you are preapproved to buy a home and are planning on using the NHF Grant program, you may want to contact your mortgage professional to come up with another plan.

Home buyers who need down payment assistance may also consider the programs offered by the Washington State Housing Finance Commission, such as Home Advantage. Although the down payment assistance programs offered by WSHFC are not grants, they are loans (typically with payments deferred) that will eventually need to be repaid. Here is more information on the various down payment assistance programs I have available.

If you are considering buying a home located anywhere in Washington State, I’m happy to help you!

What May Impact Mortgage Rates this Week: February 1, 2016

MortgagePorter-JobsReportWelcome to February! As it’s the first week of a month, we have the Jobs Report due to be released this Friday. Mortgage rates are at their lowest levels in months. Many Washington home owners are taking advantage and refinancing to either reduce their payment, shorten their mortgage terms or taking cash out for home improvements or to consolidate debt. We are also seeing more home buyers in action too! [Read more…]

EveryHome: A match maker for home buyers and sellers [Video]

On our last episode of Seattle RE Chat featured Bryan Copley, CEO of EveryHome.

Everyhome’s concept is based on the idea that every home is for sale for the right price. Bryan thinks of EveryHome.co as a “match maker” between home buyers and home owners – even homes that are not yet listed (off market).

Check out our interview with Bryan and learn more about EveryHome.

 

Freddie Mac Reports Rates Continue Lower for 4th Week in a Row

Freddie Mac’s PMMS Report reveals that conforming mortgage rates continued to trend lower last week with the 30 year conventional averaging 3.79% with 0.6 points.

Jan 28 16 PMMS

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From the Junk Mail Bag: Refi with Lender Paid Closing Cost

If you’ve been reading my blog for a while, you know one of my pet peeves is misleading junk mail that mortgage companies will blast out to attempt to generate business.

2016-01-27 12.15.05

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What May Impact Mortgage Rates this Week: January 25, 2016

mortgageporter-economyThe Fed starts their two day meeting today which wraps up tomorrow. It is highly unlikely that the Fed will make any changes to the Fed funds rate tomorrow. Investors will be paying close attention to the FOMC’s statement that will be released when their meeting has concluded around 11:00 PST.

[Read more…]

DIY Sea Glass Mirror

I guess I’m becoming very crafty… I wanted a sea glass mirror for one of our bathrooms. When I checked online, I was a little surprised at the cost so I decided to make my own. My husband happened to have a mirror of the exact size that I wanted for the bathroom that he was hoarding storing from a previous home. It’s an oval mirror with a beveled edge.

[Read more…]