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…”.
Mortgage interest rates are having one of their best days in months following the CPI report released this morning showing better than expected data on inflation. Yes, inflation is still high but this morning’s report indicates that it may be starting to correct. [Read more…]
Freddie Mac’s Prime Mortgage Market Survey illustrates how mortgage interest rates have continued to push higher. The graph below is based on an average from last week so the rates are “expired”. This graph is to just give you an idea of how mortgage rates are trending. NOTE: Please click here for current mortgage rates for your personal scenario.
Fannie Mae recently released updated projections for interest rates next year. An average of 4.500% for a 30 year fixed would be an improvement from what home buyers and homeowners have experienced since the jump in interest rates that that happened the second quarter of this year. We have to remember that this is just a prediction and many factors influence the direction of mortgage interest rates. [Read more…]
I can’t take credit for the catchy phrase “Marry the house. Date the rate”. It’s being posted by mortgage professionals and real estate agents all over social media. What does this phrase mean? [Read more…]
Mortgage interest rates have been moving higher at a pace not seen in years. If you’ve been a subscriber to The Mortgage Porter, you may recall that I often say mortgage rates move up much faster than they come down…the jump over the last few days has surprised many. [Read more…]
NOTE: Rates posted below are expired. For current rates on homes located anywhere in Washington state, please click here.
Freddie Mac’s Prime Mortgage Market Survey released this morning shows that mortgage rates have been slightly improving.
It’s important to note that this data is from last week and that these rates are not current. This graph merely illustrates the movement of interest rates over the 12 months. The bottom row actually dates back to 1970. [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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