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 30, 2024
September 30, 2024 by Leave a Comment
Mortgage Market Update for the Week of September 16, 2024
September 17, 2024 by Leave a Comment
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
August 29, 2024 by Leave a Comment
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.
July 31, 2024 by Leave a Comment
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%?
June 26, 2024 by Leave a Comment
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…]
Who’s Buying Homes in this Market?
June 22, 2024 by Leave a Comment
The Existing Home Sales was released yesterday which reports on the closings of existing single-unit homes.
Would you be surprised to know that last month, 31% of all sales were first-time homebuyers? [Read more…]
Searching for your Dream Home? Consider a Renovation Mortgage.
May 5, 2024 by Leave a Comment
If you have been finding the current lack of inventory a challenge, you may want to consider a renovation mortgage. A renovation mortgage (or rehab loan) allows you to finance improvements to the property beyond the sales price of the home. The renovations begin after closing and there are no restrictions on the types of improvements. You can even use this on your existing home as a refinance if you love your location and neighbors and just want to make changes to your home. [Read more…]
Are you considering an ADU?
April 30, 2024 by Leave a Comment
Have you been considering a “mother-in-law” apartment or backyard cottage? This type of dwelling is technically referred to an accessory dwelling unit aka “attached dwelling unit” (ADU) or detached dwelling unit (DADU). [Read more…]
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