Helping Washington State homeowners learn more about their mortgage options.
Mortgage rates seem to be pretty steady (right now). This week’s episode features a down payment assistance program that doesn’t require you to be a first time home buyer or have income limits. Check it out in my latest update or contact me with questions!
Mortgage rates have been trending lower but does that mean it’s a good time to refi?
Mortgage rates have improved following Friday’s weak BLS Jobs data. Check out my weekly report to learn more.
The other day, a home buyer who was shopping interest rates told me that another lender would not provide her with a rate quote unless she submitted an application and allowed them to run her credit. This is wrong! A lender does not need a complete application or to pull your credit report (not even a “soft-pull”) before they can provide you with a detailed mortgage rate quote. I don’t know if it was the lender’s company policy or if they were just trying to get more information – however, it should not be required. [Read more…]
Today at 11:00 PST we will learn if the Fed is going to make any changes to the Fed Funds rate as they complete their two-day meeting. It is widely expected that there will be no change to the rate today. The Fed Funds rate does not directly impact mortgage rates* as mortgage rates are based on bonds (mortgage-backed securities), which move similar as stocks. Markets will be waiting for the Fed’s statement and the press conference that follows the rate decision. [Read more…]
We have the Fed meeting, PCE (inflation data) and the Jobs Report…oh my!
The Seattle Times recently published an article on how expense weddings are becoming in the greater Seattle area and how some couples are opting for simpler ceremonies. The article quotes an average cost for a wedding, according to a local wedding planner of being $58,000. As a mortgage professional, it’s jaw dropping to me that people spend this amount of money instead of buying a home or saving for retirement. I understand that this is an incredibly important time in a person’s life and a celebration to remember…but once the honeymoon is over, you have beautiful memories and a gorgeous photo album.
What if instead most of those funds were used to buy a home that will most likely appreciate in value creating future financial security? [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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