Archives for March 2014

WSHFC now offers reduced mortgage rates with no DPA

2013-03-07_0746The Washington State Housing Finance Commission offers several mortgage programs with various types of down payment assistance for home buyers. In order to qualify for the program, home buyers need to have household income of $97,000 or lower and attend a WSHFC sponsored home buyers class.

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What may impact mortgage rates this week: March 31, 2014

MortgagePorter-JobsReportMortgage interest rates bounced around last week more than they have in a while. This week could prove to be turbulent with the Jobs Report being released on Friday. Remember, mortgage rates are based on bonds (mortgage backed securities) and they often move the opposite direction of stocks. This is because traders tend to seek the safety of bonds when the stock market is being hit. The reverse is also true. We may also see mortgage rates trend higher when data reveals signs of inflation. Here are some of the economic indicators scheduled to be released this week:

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Seattle RE Chat: What’s going on in the Seattle real estate market?

In this episode of Seattle RE Chat, Jim Reppond of Coldwell Banker Danforth and I discuss what’s going on in the Seattle real estate market, including the lack of inventory.

Side note: if you have been considering selling your home, today’s lack of inventory could make this a prime time for you to sell your home.

Seattle RE Chat is a Google Hangout that takes place on Tuesdays at 10am Seattle-time. You can follow us on Twitter at @Seattlerechat or #seattlerechat

It shouldn’t be a hassle to get a mortgage rate quote

iStock-000017972256XSmallI did a little experiment on Tuesday. One of my Seattle home buyers asked why there’s a difference between the rates I’ve provided and those you can find posted online. I explained to him that the rates posted online are often not available and typically those sites are used for “lead generation” purposes. When consumers enter their email addresses and phone numbers, they may start to feel very popular by being inundated with phone calls and emails by mortgage lenders. When someone fills out a form requesting mortgage information or a rate quote online, they are considered a “hot lead” and their contact info is worth money and may be sold and re-sold.

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Home Buyers Seminar in Kent on Saturday, April 5, 2014

Seattle Home Buyer ClassesWould you like to learn more about the home buying process?

Would you like to qualify for down payment assistance?

Join me and my fellow instructor, Ira Sacharoff of Better Properties Real Estate as we review what happens during the home buying and mortgage process during this Washington State Housing Finance Commission sponsored class. Class participants may be eligible for mortgage programs and down payment assistance programs offered by the Washington State Housing Finance Commission (WSHFC), such as the Home Advantage Mortgage.  This class also satisfies the home buyer education requirement for Freddie Mac’s Home Possible Program.

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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_0746EDITORS NOTE: It appears as though this program is being suspended effective the end of February 2016. If you’re considering using a grant, you might want to check out other down payment assistance options such as Home Advantage.

I 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

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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