In Memory of Jim Reppond

Jim Reppond passed away on November 11, 2024. I was so saddened and surprised to learn about this and I just think that I haven’t been ready to accept it. Jim had met me for lunch a couple of months earlier in Seattle and I’m so glad we took the time to catch up. It would be our last conversation.

Jim was a legendary real estate agent and ahead of his time when it came to tech and social media. Sometimes we would be panelist together at different events.

We got to know each other through various real estate social media events, like RE Bar Camp. He was kind, knowledgeable, generous and had a great sense of humor. I think he was trying to help me keep the lines straight at the REBC event.

Together we hosted many real estate seminars for home buyers in the Seattle area on weekends.

He created a weekly show that I co-hosted with him, Seattle Real Estate Chat. Together, we created 56 episodes!

He was fun to be around and to work with. He took great care of his clients.

Jim was teaching new real estate agents at Rockwell. He was passionate about sharing his knowledge with others.

It was an honor to know Jim and I miss him dearly.

My heartfelt condolences to his family and friends.

Rest in peace, Jim.

It’s Fed Day! [Live Post] NO CHANGE to the Fed Funds Rate

8:15 a.m.  Today around 11:00 am PST, we’ll have the decision from the FOMC on whether they are making any adjustments to the federal funds interest rate. Odds are very strong (99.5% per the CME Group) that there will be no change at this meeting. This is what the markets are anticipating. If the Fed surprises us, then markets will react dramatically. The Fed’s actions and market reactions are what may impact mortgage rates today as mortgage rates are based on bonds (mortgage-backed securities).  The Fed does not directly control mortgage interest rates.

Following the Fed announcement today, Fed Chair Powell will hold a press conference. What he says (or what the market interprets from his press conference) may also impact the direction of mortgage interest rates. The markets are watching for signs that inflation is cooling (good for mortgage rates) or if inflation is being stubborn (bad for mortgage rates).

Right now, MBS 30 year is pretty flat (down 4 basis points). [Read more…]

First Mortgage Rate Update for 2025!

We have a lot on the economic calendar that may impact mortgage rates this week, including jobs data. Check out my weekly update to learn how rates are kicking of the new year and also, learn how one of my clients are benefiting from buying a home two years ago.

 

Mortgage Market Update for the Week of September 30, 2024

It’s Jobs Week with the first week of October. Here’s my latest update featuring what may impact mortgage rates this week.

If you would like to learn more about mortgages for your personal scenario, please contact me!

PS: Go Seahawks!!!

Mortgage Market Update for the Week of September 16, 2024

It’s a big week with the FOMC’s highly anticipated meeting wrapping up on Wednesday when we will learn if they’re going to cut the funds rate by 25 or 50 basis points. Watch my weekly update to learn more!

The Fed’s move tomorrow does not directly change mortgage interest rates; however, it does influence mortgage rates as rates are based on mortgage-backed securities (bonds) and are traded similar as stocks.

Changes to the Fed’s funds rate does impact the rates on home equity lines of credit, credit cards and other debts where the interest rate is based on the Prime Rate as the prime rate follows the Fed’s funds rate.

Mortgage rates have been improving and I am already helping people restructure their mortgages and eliminate high-interest rate debts. If you would like to see possible scenarios based on current rates, I’m happy to share this with you with no obligation.

 

 

Helping Your Adult Child Buy a Home

Buying a home for your child is a major financial and emotional decision. It’s a generous gesture that can offer security, stability and help create wealth, but it’s essential to carefully weigh the pros and cons before making this commitment. Here are some important factors to consider: [Read more…]

It’s Fed Day! Fed Funds Rate is Unchanged.

Today the FOMC will wrap up their two-day meeting and announce whether or not they are going to adjust the Fed funds rate. It is widely anticipated that the Fed will not make any changes to the Fed funds rate today. Close attention will be paid to what Fed Chair Powell states after the meeting to see if he provides any indications on when the Fed will adjust the Fed funds rate. [Read more…]

What if mortgage rates don’t hit 5%?

Fannie Mae and the Mortgage Bankers Association (MBA) released their monthly updated forecast for mortgage rates through 2025. This June update no longer shows predicted rates for the 30-year fixed conforming to hit the 5% range. MBA, who tends to be the most optimistic, forecasts that in the 4th quarter of 2025, we’ll see 6.0% for a rate with the homes of 5.8% in 2026.

Should you hold out on Fannie Mae and MBA’s forecast for lower rates in two years? It depends. [Read more…]