Are mortgage rates being naughty or nice? Check out my latest video on mortgage rates to find out how interest rates are behaving since the Fed dropped the Funds rate by 25 basis points.
It’s Fed Day! [Live Post]
December 18, 2024 by Leave a Comment
Today wraps up the 2-day FOMC meeting which ends with a highly anticipated announcement from the Fed on decisions the Fed Funds rate. It’s important to note that this decision does not directly change mortgage rates. For example, if you hear that the Fed has cut rates by a quarter point or 25 basis points, this does not mean that rates for the 30-year fixed are now a quarter point lower. The action the Fed takes and their commentary or information they release during this meeting does influence the direction of mortgage rates. [Read more…]
Mortgage Market Update for the Week of December 16, 2024
December 16, 2024 by Leave a Comment
It’s the last full-week of the year with the holidays upon us. We have the final Fed rate decision this week with a 25 basis point cut to the Fed Funds rate already baked into mortgage rates…but halls are decked with more than holly this week with other economic indicators that may impact the direction of mortgage rates.
Check out my latest video for more details, including the WORST purchase to make if you’re thinking about buying (or refinancing) a home.
Happy Holidays!
Mortgage Rate Update for the week of December 9, 2024
December 9, 2024 by Leave a Comment
Want to know what’s impacting mortgage rates this week? Check out my latest update which includes a preview of our Buy Now vs Wait Report.
Mortgage Market Update for the week of December 2, 2024
December 2, 2024 by Leave a Comment
Can you believe it’s the first week of December? The first Friday of a month is typically when the BLS Jobs Report is released. This report tends to have a strong impact on mortgage rates. Check out my latest weekly update to learn where rates are trending and what else is scheduled to influence the direction of mortgage rates.
If you’re thinking about buying, selling, remodeling or refinancing, please reach out – I am happy to help you or anyone you know.
Happy 18th Blog-Anniversary to The Mortgage Porter
November 28, 2024 by Leave a Comment
18 years ago, I created The Mortgage Porter. I was frustrated with how the news was wrongly reporting that all loan officers were going to be licensed – which simply was wrong. Loan officers who work for depository banks or credit unions are not required to be licensed. We are held to different standards, which is unfortunate…but I digress. I’m here to celebrate the 18th anniversary of my blog, The Mortgage Porter. [Read more…]
2025 FHA Loan Limits for Washington State
November 26, 2024 by Leave a Comment
HUD has announced the 2025 loan limits for FHA mortgage loans.
King, Pierce and Snohomish Counties, the loan limits are:
- 1 Unit: $1,037,300
- 2 Unit: $1,327,950
- 3 Unit: $1,605,200
- 4 Unit: $1,994,850
2025 Conforming Loan Limits for Washington State
November 26, 2024 by Leave a Comment
FHFA has announced the conforming loan limits for 2025.
- 1 Unit: $806,500
- 2 Unit: $1,032,650
- 3 Unit: $1,248,150
- 4 Unit: $1,551,250
High Balance Conforming Limits for King, Pierce and Snohomish Counties
- 1 Unit: $1,037,300
- 2 Unit: $1,327,950
- 3 Unit: $1,605,200
- 4 Unit: $1,994,850
Recent Comments