Archives for January 2015

Coming Soon: 2015 Property Tax Bills

detctiveIn a couple weeks, King County along with others, will begin posting property tax bills for 2015. This may be a non-event for most…unless you’re in the process of buying a home and your debt-to-income ratios are tight. It’s possible that should the tax assessor decide the home you have a contract on now or during the next month has a higher value, and therefore a higher tax bill, that this may jeopardize some loan approvals and/or transactions.

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Home Buyers who had a short sale or foreclosure are making a comeback

mortgageporterhomeA “boomerang buyer” is the nick-name given to people who lost their home due to foreclosure or a short-sale during the Great Recession, who are “back” buying a home again. Realtytrac reports:

In 2015, the first wave of 7.3 million homeowners who lost their home to foreclosure or short sale during the foreclosure crisis are now past the seven-year window they conservatively need to repair their credit and qualify to buy a home. More waves of these potential boomerang buyers will be moving past that seven-year window over the next eight years corresponding to the eight years of above historically normal foreclosure activity from 2007 to 2014.

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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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Freddie Mac reports mortgage rates continue to slowly drift lower

Freddie Mac’s weekly rate report revealed that mortgage rates continued to trend lower last week.

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What May Impact Rates this Week: January 19, 2015 [Mortgage Rate Post: Rates trending lower]

10527303_10152476072701046_2911459444863856330_nHoly Catfish – the Seahawks are going to the Superbowl! Okay, now I can return to writing this week’s mortgage rate update.

This is a short week with yesterday’s holiday honoring Martin Luther King. There are not a lot of U.S. economic indicators scheduled to be released this week. Elsewhere in the world, China has some interesting developments taking place in their markets yesterday and the ECB’s monetary policy decision will be released on Thursday, which may impact our markets.

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Freddie Mac Reports Lowest Mortgage Rates since May 2013

2015-01-15_0807_Fredie_Mac_RatesThis morning, Freddie Mac released their weekly mortgage rate report confirming that the 30 year fixed conforming rate is back to record lows from 19 months ago:
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What May Impact Mortgage Rates this week: January 12, 2015 [RATES TREND LOWER]

mortgageporter-economyMortgage rates continue to bounce along very low levels. Last Friday’s Jobs Report was a bit of a mixed bag with then number of employed increasing and hourly wages slightly lower. We don’t have any economic indicators scheduled to be released today. Watch mortgage rates take their cue from the stock market and world events.

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It’s Official: FHA Mortgage Insurance to be reduced

Today HUD issued Mortgagee Letter 2015-01 officially reducing FHA mortgage insurance effective on case numbers issued on or after January 26, 2015. HUD is also allowing existing case numbers (with the current higher mortgage insurance) to be cancelled as long as they were ordered within 30 days from today.

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