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…]
It’s Fed Day! Fed Funds Rate is Unchanged.
July 31, 2024 by Leave a Comment
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…]
Upcoming Class on New Zoning Laws in Washington
April 15, 2024 by Leave a Comment
***THIS CLASS IS SOLD OUT–please contact me if you would like us to arrange another class.***
If you’re a real estate agent, you don’t want to miss out on this upcoming class on Washington state’s new zoning laws. This all day class takes place at the Kent office of New American Funding and we will be serving up lunch as well as important information you need to know. 
We just have a few seats left so be sure to sign up today! Scan the QR code or click here to RSVP.
I hope to see you then!
Mortgage Market Update for the week of March 18, 2024
March 18, 2024 by Leave a Comment
We have the FOMC meeting wrapping up this Wednesday. While we don’t anticipate any changes to the Fed Funds rate, what Chairman Powell has to say following the meeting may impact mortgage rates. For more detail, check out my latest Mortgage Market Update video.
Visiting Open Houses? You Need to Be Fully Preapproved
March 2, 2024 by Leave a Comment
It’s fun to visit open houses on the weekends. You may be picturing yourself living in the home, enjoying the backyard or perhaps making a few home improvements to really make it “yours”.
If you’re even thinking about buying a home, I strongly encourage you to get fully preapproved before you find yourself at an open house wanting to present an offer.
Here are some steps I recommend for anyone considering buying a home. [Read more…]
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