What May Impact Mortgage Rates this Week: December 8, 2014

mortgageporter-economyMortgage rates trended higher on Friday following the much stronger than expected Jobs Report which even included positive revisions for the two previous months. Weak economic news coming from Europe and China are helping bonds (like mortgage backed securities) improve this morning. Mortgage rates continue to be around 18 month lows so this could be a good time to review your current mortgage to see if refinancing makes sense. You can start the new year off with a lower mortgage payment and more money in your pockets!

[Read more…]

BREAKING NEWS: 2015 FHA Loan Limits HIGHER for King, Snohomish and Pierce Counties

HUD just released the loan limits for 2015. All Washington state counties will have the same FHA loan limits as 2014 with exception to King County, Snohomish County and Pierce County. The tri-county area has higher loan limits that mirror 2015 conforming loan limits.

2015 Conforming Loan Limits for King, Snohomish and Pierce Counties:

  • One Unit: $517,500 (up from $506,000)
  • Two Unit: $662,500 (up from $647,750)
  • Three Unit: $800,800 (up from $783,000)
  • Four Unit: $995,200 (up from $973,100)

I will do a follow up post with a complete list of all counties soon!

UPDATE December 15, 2014: Here is a complete list of the FHA 2015 loan limits of all Washington state counties.

Money Saving Tips You Can Do Now for the New Year

mortgageporterraiseThe other day, Get Rich Slowly published 14 Smart Money Moves to Make Before the End of the Year which I liked enough to share on my Facebook page and to also included here on my blog. :)  There are a couple “smart money moves” that are missing on this post that I would like to suggest for home owners.

[Read more…]

What May Impact Mortgage Rates this week: December 1, 2014 – Mortgage Rates continue Lower

santawalletCan you believe this is the last month of 2014? This year really seems to have gone by extra fast to me…or perhaps I’m just getting older or perhaps I’m feeling this way after returning to work following the long holiday weekend. :)

Regardless of how quickly time flies, this week is packed with economic data that may impact the direction of mortgage rates, including the Jobs Report on Friday.

Here are some of the economic indicators scheduled to be released this week:

[Read more…]

Happy 8th Blogoversary to The Mortgage Porter

Eight years ago today, I published my very first post on this blog. It all began because I was a bit frustrated with the (then) new mortgage originator licensing laws, created from the SAFE Act, having different standards for LO’s based on what type of mortgage institution they worked for. Mortgage loan originators who were employed by banks or credit unions were not held to the same standards, per the SAFE Act, as those who were not employed by a depository institution. Some will argue that this is because banks and credit unions were already regulated…however, one just needs to remember the good ol’ friend of the family to know that those regulations were not enough.

[Read more…]

What May Impact Mortgage Rates this week: November 24, 2014

OLYMPUS DIGITAL CAMERAThis is a short week with offices closed Thursday and Friday for the Thanksgiving holiday. There are no economic indicators scheduled to be released today, however the rest of this week is stuffed, like a Thanksgiving turkey.

[Read more…]

BREAKING NEWS: 2015 Conforming Loan Limits HIGHER for King, Pierce and Snohomish Counties

I just received notice from FHFA that overall, 2015 loan limits will remain the same for most counties except for a few counties with higher loan limits. In Washington state, the counties with higher loan limits in 2015 are King County, Snohomish County and Pierce County.

2015 Conforming Loan Limits for King, Snohomish and Pierce Counties:

  • One Unit: $517,500 (increased from $506,000)
  • Two Unit: $662,500 (increased from $647,500)
  • Three Unit: $800,800 (increased from $783,000)
  • Four Unit: $995,200 (increased from $973,100)

All other counties in Washington state have the same loan limits as 2014.

Stay tuned for announcements on FHA and VA loan limits for 2015.

My Personal Tiki Mug

My Mom is a very talented artist and has recently started creating custom tiki cups as a hobby. Check out this one she made of me!

2014-11-23 09.58.27
[Read more…]