What May Impact Mortgage Rates this Week: March 30, 2015

mortgageporter-economyThis 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:

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What May Impact Mortgage Rates this Week: January 26, 2015

mmsc 12th manMortgage rates continue to be bouncing at very low levels while the markets continue to be very volatile. Here are some of the economic indicators scheduled to be released this week that may impact the direction of mortgage interest rates:

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2015 Conforming Loan Limits for Washington State

Earlier this month, the FHFA announced the 2015 conforming loan limits for homes located in Washington state. A conforming loan is a conventional loan (ie Fannie Mae or Freddie Mac). Loan amounts that exceed the conforming loan limit are considered jumbo loans (or non-conforming) and have different underwriting guidelines and rates.

The FHFA increased the loan limits in three counties (King, Pierce and Snohomish) effective 2015. All other counties will have the same loan limits as 2014.

2015 Conforming Loan Limits for Homes Located in Washington State

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Mortgage Rates Drop to new 2014 Lows

The 30 year fixed  is back under 4.000% as I write this post. Rates change constantly and with how volatile the markets have been, we could see mortgage rates bounce back up as quickly as they’ve dropped down.

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What May Impact Mortgage Rates this Week: June 30, 2014

MortgagePorter-JobsReportThis is a short week with Independence Day on this Friday. Watch for the Jobs Report being released on Thursday, July 3, which could provide some early fireworks depending on if the data comes in less or more than expected.

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

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Home Buyer Class in South Seattle

Seattle Home Buyer ClassesI will be teaching a Home Buyers Education Class with Ira Sacharoff of Better Properties Real Estate Seattle on Saturday, August 9, 2014 at the Skyway Public Library. This class is sponsored by the Washington State Housing Finance Commission.

Students will learn about the home buying process and will receive a certificate at the end of the class making them eligible for:

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Washington State Down Payment Assistance Programs and Grants

2013-03-07_0746Washington State home buyers have several various down payment assistance programs available and they’re not just limited to first time home buyers.  These funds can go towards closing cost and the down payment of primary residence.

Here’s an updated list of what I have available.

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How Much Cash Do I Need to Buy a Home besides the Down Payment and Closing Cost?

mortgageporterraiseIn addition to the down payment and standard closing cost associated to buying a home, additional funds may be required from the buyer prior to closing on a home. Here’s an example of what home buyers in the greater Seattle area should be prepared for.

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