What May Impact Mortgage Rates this Week: March 24, 2014

mortgageporter-economyMortgage rates are based on bonds (mortgage backed securities) and often fluctuate throughout the day depending on activity in the markets. Often times when the stock market is taking a hit, we’ll see mortgage rates improve as investors will trade seek the safety of bonds. World events, like what is taking place in Crimea, may impact mortgage rates,  as will the Fed’s bond buying program and economic data that is scheduled to be released. Here are some of the economic indicators scheduled to be released this week:

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National Home Buyers Fund Down Payment Assistance now available!

2013-03-07_0746I am just learning about a down payment assistance program (dpa) that I now have available at Mortgage Master Service Corporation. The NHF Platinum Program is a little different than what you may be used to as it’s a grant that does not have to be repaid.

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Fed to continue to prune support of mortgage backed securities

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Mortgage rates trended higher this afternoon after the Fed stated they will prune another $10 billion per month from their bond buying program which has been keeping mortgage rates artificially low.

From the FOMC Press Release:

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What May Impact Mortgage Rates this Week: March 17, 2014

mortgageporter-economyHappy Saint Patrick’s Day! Here are some of the scheduled economic indicators which may impact mortgage rates being in the green this week:

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What May Impact Mortgage Rates this Week: March 10, 2014

mortgageporter-economyLast Friday, the Jobs Report came in stronger than expected causing mortgage rates to tick slightly higher (although they’re still historically low). Mortgage rates are based on mortgage backed securities (bonds) and may change constantly throughout the day. Here are some of the economic indicators scheduled to be released this week, which may impact the direction of mortgage rates:

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Should I attend Seattle Agent ReBoot or Greater Seattle RE BarCamp?

Easy answer: BOTH! :)

Full disclosure, I am one of the organizers of this years Seattle RE BarCamp which will be taking place next week, Thursday, March 13, 2014. And I am planning on attending both Seattle Agent ReBoot and Seattle RE BarCamp next week.

Why? Because these two events offer two unique experiences.

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Who does what in the mortgage process?

There are a lot of people involved in processing a closing a mortgage transaction at a mortgage company. With recent regulations, newer positions have been created adding to the hands that are involved in the process. Here’s a list of some of the positions involved in the mortgage process – please keep in mind that this varies from company to company and often times, titles may vary as well.

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What may impact mortgage rates this week: March 3, 2014

MortgagePorter-JobsReportMortgage rates are slightly improved this morning as the stock market is taking a bit of a hit. As I write this (8:45 am) the DOW is down about 200 points. It’s not unusual to see mortgage rates improve when the stock markets are selling off as investors will seek the safety of bonds.  Mortgage rates are based on bonds (mortgage backed securities) and will often react opposite to the stock market.

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