Helping Washington State homeowners learn more about their mortgage options.
Freddie Mac’s PMMS (Prime Mortgage Market Survey) was released this morning showing that mortgage rates have been trending lower.
Please remember, the rates posted above from the PMMS are based on a survey from LAST WEEK… so these interest rates are expired and really just show where interest rates are trending. Please contact me for current mortgage rates for your personal scenario. [Read more…]
Last week, the FHFA (Federal Housing Finance Agency) announced changes to how conforming mortgages are priced with loan-level price adjustments (LLPAs). Some borrowers will find improved pricing where others will have to pay more in fees. The fees are typically incorporated into the interest rate for the mortgage.
From Fannie Mae’s Lender Letter dated January 19, 2023:
“We are implementing additional changes to our LLPA framework that represent the next step in our effort to increase support for borrowers historically underserved by the housing finance market…”.
If you’re waiting for home prices to come down or interest rates to improve a bit more; I hope you’ll read an article recently penned by David Stevens: A Reminder: Home Prices Always Rise Over Time | LinkedIn
David has an extensive background in the mortgage industry, including serving as the Assistant Secretary of Housing and Federal Housing Commissioner for the United States Department of Housing and Urban Development (HUD). [Read more…]
If you are looking at adding to your real estate investment portfolio, I may have some good news for you! We have a new program that allows investors to qualify for a mortgage based on the property’s cash flow. [Read more…]
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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