Mortgage Rate Update for the Week of January 2, 2024

It’s our first update for the new year! This week is packed with economic data scheduled to be released. Watch this week’s video for more info!

Mortgage Rates Trending Lower

Freddie Mac’s weekly PMMS report was released yesterday showing that rates continue to trend lower.

[Read more…]

Mortgage Update for the Week of December 18, 2023

Next week, I will not be providing a Mortgage Update due to the holidays. I hope you and yours have a Merry Christmas and Happy Holidays!

All Eyes are on the Fed [Live Post]

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…]

Mortgage Rate Update for December 11, 2023

Here are some of the economic indicators that may impact mortgage rates this week!

2024 FHA Loan Limits for Homes in Washington State

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

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

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…]