Recently Travis Pittman of King 5 news shared his personal story about how he is unable to sell his condo in Kent. He sites part of the reason that he is unable to sell the condo is because of FHA requirements. I do agree, it’s important to keep your condo on FHA’s approved list, however the data that was provided in the article is not entirely correct.
Friday’s weaker than expected Jobs Report surprised the market, causing mortgage rates to improve. This week appears to be a little light on economic calender for indicators scheduled to be released. Watch for the FOMC minutes to be released on Wednesday. You may also want to watch the Seattle Mariners first game of the season this afternoon against the Angels. For the record, I will not be at the game today…it’s a typical work day for me, helping my clients buy and refinance homes around the greater Seattle area.
Home Buyer Classes or Seminars are popping up every where. They are often taught by a Mortgage Originator paired with a Real Estate Agent, both with hopes they will earn a chance to help students with the purchase of their home. Sometimes home inspectors or escrow officers may take part in teaching as well. Class content can vary as well as the length of the class. Some classes will even help students become eligible for down payment assistance programs and/or tax credits (MCC).
How do you know which home buyer class is the right one for you?
15 years ago today, I left my title and escrow career of fourteen years behind for a career in the mortgage industry at Mortgage Master Service Corporation. When I told the real estate agents that I worked with as their title rep for many years that I was “retiring” to become a loan officer, many thought I was playing an April Fools joke on them!
This week is set to have volatility continue with mortgage interest rates based on what’s on deck for economic indicators scheduled to be released, including the Jobs Report on Friday. Here’s this week’s line up:
Freddie Mac’s survey of what mortgage lenders reported for conforming rates last week revealed that mortgage interest rates trended lower. You can see based on the chart below that rates have been bouncing in a tight range, remaining below 4%.
I will be teaching a home buyer class in Renton with Ira Sacharoff of Better Properties Real Estate on Saturday, May 2, 2015 at the Fairwood Library.
The class is sponsored by the Washington State Housing Finance Commission. Students who attend are eligible for programs like Home Advantage or House Key Opportunity (the Washington state bond program) or Freddie Mac Home Possible. Students are also eligible for various down payment assistance programs and MCC (mortgage credit certificates).