Archives for September 2014

Changes to USDA Mortgages

2014-09-03_usdaUSDA offers mortgages with no down payment for homes that are located in designated rural areas to borrowers who meet household income limits. The mortgage rates are very competitive and the mortgage insurance (technically called “guarantee fees”) are very affordable. It’s truly a great program for those who qualify and are buying a home in rural areas, like Duvall, Enumclaw or Anacortes.

Recently, USDA issued Handbook 3555 with updated regulations for USDA mortgages. Here are just a few of the changes:

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

mortgageporter-economyThis week’s calendar of economic indicators seems light, especially following last week that included the Jobs Report on Friday.

Remember, mortgage rates are based on bonds (mortgage backed securities) and often change throughout the day. Sometimes mortgage rates change only slightly by price (the cost for a specific rate) and of course, we can see dramatic rate changes as well. The direction of mortgage rates may be influenced by scheduled economic data, the direction of the stock market, inflation or even world events.

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Freddie Mac’s Mortgage Rate Survey reveals some of the lowest mortgage rates of 2014

Today Freddie Mac released their Primary Mortgage Market Survey showing the 30 year fixed rate at some of the lowest levels for this year. Freddie’s PMMS is based on survey of various lenders from rates quoted the previous week and is intended to show consumers what the average rate and points for that rate were last week.


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What May Impact Mortgage Rates this Week: September 1, 2014

10626879_10152256097026046_1092128899241203089_nHappy Labor Day! Our office is closed today and will re-open for business as usual tomorrow morning at 9:00 am. This photo is from an hour or so ago at the dog park at Luther Burbank Park on Mercer Island. My hubby is tossing a bumper for our pup, Hitch (the black one to the right) and has a few other pups who are interested in playing too. What a gorgeous September day this is – I hope you and yours and having a wonderful holiday.

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