Mortgage Master Service Corporation on the radio

You may have noticed hearing “Mortgage Master Service Corporation” mentioned on the radio lately. This is because Mortgage Master Service Corporation has recently welcomed Laura Kiel (MLO54744) and family to join our company. Not only do they advertise on the radio, her team also host weekly radio shows. I’m still surprised when I listen to the radio and hear an ad that mentions our company name.

Mortgage Master Service Corporation was created in 1976 by the Porter family (my in-laws). I have been with the company since April 2000 and we have several employees who have been with our company longer than I have! I feel fortunate to be a part of this longstanding family owned and operated mortgage company. It is an exciting time at Mortgage Master Service Corporation to see our company expand.

If you are considering refinancing or buying a home located anywhere in Washington state, my team and I are happy to help you!

 

King County Property Tax Valuation Notice

Did you receive your “Official Property Value Notice” over the weekend? Let’s just say that I’m not surprised to see how much our values have gone up…although, in my opinion, I think the 2018 assessed value of my home is higher than what I could most likely sell it for. [Read more…]

Mortgage rates bumping along

Freddie Mac’s weekly report on mortgage rates, the Prime Mortgage Market Survey (aka PMMS) which shows what mortgage rates averaged last week, shows that rates bumped slightly higher. Remember, mortgage rates change constantly as they are based on bonds (mortgage backed securities). Rates posted are subject to change and, since this is an average from last week, they already have changed. This report is just intended to provide an idea of the direction of where mortgage rates have been and where they may be heading. If you would like current rates for your personal scenario, please contact me.

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BREAKING NEWS: Higher Income Limits for Down Payment Assistance Mortgages

The Washington State Housing Finance Commission has just announced they are increasing the income limits on all of their Home Advantage mortgage programs. The income limits are being increased effective immediately from $97,000 to $145,000! [Read more…]

Should you work with a local lender?

The other day, while on Facebook, I came across a stat that my friend and real estate educator, Jillayne Schlicke had posted in response which surprised me. Her comment was in response to an article she had shared on Zillow acquiring a mortgage company that has licenses in all 50 states.

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Private Mortgage Insurance Pricier for Single Borrowers

Private mortgage insurance is required on conventional mortgages when there is less than 20% equity on a property, when the loan-to-value is greater than 80%. Private mortgage insurance (pmi) that is paid monthly automatically drops off the mortgage payment once the mortgage balance reaches 78% of the original loan amount. Private mortgage insurance premiums are intended to be risked based. The more equity or down payment on a home and the higher your credit scores are, the lower the premiums tend to be. [Read more…]

How does economic news impact mortgage interest rates?

Mortgage rates are based on bonds (mortgage backed securities) and are traded fairly similar as stocks. Investors tend to favor stocks over bonds as stocks tend to provide a better return. However, investors will opt for bonds over stocks when they are seeking safety when markets are tumultuous.  When the stock market is on a run, odds are mortgage rates may be moving higher as investors are selecting stocks over bonds. And when the stock market is tanking, mortgage rates tend to improve for the same reason. [Read more…]

Mortgage Rates Bouncing Along

Freddie Mac released their Prime Mortgage Market Survey this morning showing that last week, average mortgage rates slightly ticked higher.

I don’t post the PMMS weekly reports from Freddie Mac every week (you can see them here), however from my last post on this, you can see there is very little difference in interest rates compared to almost 1.5 months ago.

This is good news for people who are considering buying or refinancing their homes with mortgage interest rates staying historically lower (see the bottom time line on the pic above). If you need a mortgage on a home located anywhere in Washington state, where I’m licensed, I am happy to help you!  Click here for a mortgage rate quote.