Fannie Mae will be increasing the income limits for HomeReady effective July 16, 2016 making it easier for more people to qualify for this mortgage program. [Read more…]
Archives for June 2016
Fannie Mae increases income limits for HomeReady
June 29, 2016 by 1 Comment
Mortgage rates dropping following the Brexit
June 24, 2016 by 1 Comment
Investors had been banking on the Brits staying in the European Union. This morning’s Brexit narrow vote to leave the EU results stunned the markets. The Dow was down over 500 points. This morning, mortgage rates are dropping.
Want to lock in a historically low mortgage rate? You can start with getting a rate quote or by starting a pre-application. NOTE: I am licensed to originate mortgages for homes located in Washington State.
Mortgage Rates Remain near Three Year Lows
June 23, 2016 by Leave a Comment
USDA to reduce Guarantee and Annual Fees
June 14, 2016 by Leave a Comment
Effective October 1, 2016, the upfront guarantee fee and annual fee (paid monthly) will be reduced with USDA mortgages. This new fee structure will take place until September 30, 2017, the end of the fiscal year for USDA.
Mortgage rates drop following the Jobs Report
June 3, 2016 by Leave a Comment
The morning the Jobs Report was released with weaker than expected data with only 38K non-farm jobs added in May. This is far less than the anticipated 155k jobs. In addition, April’s Jobs Report was revised with fewer jobs than originally reported. [Read more…]
Mortgage rates trending higher (still very low)
June 2, 2016 by Leave a Comment
Freddie Mac’s PMMS report was released this morning showing that mortgage rates are trending higher from the 3 year lows.
The Prime Mortgage Market Survey is based on an average of last week’s conforming rates and reports that the 30 year fixed rate averaged 3.66 with 0.5 points for the week ending June 2, 2016. [Read more…]
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