Helping Washington State homeowners learn more about their mortgage options.
This morning Freddie Mac released their weekly Primary Mortgage Market Survey (PMMS) revealing that mortgage rates slightly improved last week.
It’s important to note that the rates from the PMMS are based on an average from last week… so they are not current.
If you would like me to provide you with current rates based on your personal scenario, I am happy to help you!
Since mortgage rates have returned to a more historically “normal” level, many are surprised that mortgage rates a bit higher than they may have been over the past few years. Mortgage rates have been pushed higher largely due to inflation. It’s expected by many industry experts that mortgage rates should improve to the mid-5% range somewhere between this summer to sometime next year. I do not expect to see mortgage rates for the 30 year fixed 4% anytime soon. [Read more…]
Hear me out on my latest video and let me know if I can help you with your mortgage needs.
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…]
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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