This morning we received some mortgage rate friendly news on the PPI (producer price index) showing that overall inflation was flat last month. This bit news is just hours before the Fed wraps up their two-day meeting and announcement on any movement with the Fed Funds Rate at 11:00 PST. Stay tuned! I will continue to update this post today. [Read more…]
All Eyes are on the Fed [Live Post]
December 13, 2023 by Leave a Comment
Mortgage Rate Update for December 11, 2023
December 11, 2023 by Leave a Comment
2024 FHA Loan Limits for Homes in Washington State
November 28, 2023 by Leave a Comment
HUD has just announced the 2024 loan limits for FHA mortgages. FHA loan limits vary by the county the home is located in. In Washington state, some counties have higher limits than 2023 and other counties have the same loan limits from 2023.
Here are the 2024 FHA loan limits for homes located in Washington state: [Read more…]
2024 Conforming Loan Limits for Homes in Washington State
November 28, 2023 by Leave a Comment
Conforming loan limits will be going up in 2024 across the country. Conforming high balance loan amounts for Washington state will remain unchanged from 2023.
Here are the 2024 conforming loan limits:
- 1 Unit: $766,550
- 2 Unit: $981,500
- 3 Unit: $1,186,350
- 4 Unit: $1,474,400
The following counties have “high balance” loan limits
King County, Pierce County and Snohomish County: [Read more…]
What is the difference between a Bridge Loan and a Cash Buyer Program
November 17, 2023 by Leave a Comment
Bridge loans allow people who want to buy their next home to access a portion of their home equity to use as down payment and/or closing cost. They have been around for quite a while and has been a great tool to help accommodate home purchases. When I was at Mortgage Master, we offered bridge loans to qualified borrowers. [Read more…]
Does Zillow’s Gloomy Article on Buying Now Pencil Out?
November 10, 2023 by Leave a Comment
Zillow’s recent gloomy attention grabbing headline stating “If you buy now, it can take 13.5 years to make a profit on your home sale” has been creating quite a buzz with various media outlets. I thought I’d run some scenarios to compare. [Read more…]
True Horror Story: Trapped by the 3% Mortgage Rate
October 31, 2023 by Leave a Comment
If you’re a homeowner wanting to buy your next home, you might be feeling reluctance to trade your existing interest rate for a current mortgage rate. It’s easy to understand when mortgage rates are double from what they were a few years ago. Historically speaking, mortgage rates are actually closer to what would be considered more of an average range than the Fed manipulated rates of years past.
I may have some good news for you. No, it’s not a trick…this can actually be a treat! [Read more…]
I’m back from vacation!
October 21, 2023 by Leave a Comment
Late Thursday night, I returned home from a three week vacation in Italy visiting my son and daughter-in-law, who are currently living in Europe. This is the longest vacation away from my wonderful hubby and work that I have ever done. My fantastic sister-in-law Marilyn joined me on this adventure to celebrate her retirement from Mortgage Master Service Corporation. [Read more…]
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