It’s Monday and that means I’m sharing my weekly update on what may impact mortgage rates this week. Plus, I’m including solutions on what you can do if a seller is not wanting to pay your buyers agent’s commission, with the NAR Settlement.
Mortgage Rate Update for the Week of August 12, 2024
August 12, 2024 by Leave a Comment
Mortgage Rates Drop!
August 5, 2024 by Leave a Comment
Friday’s disappointing Jobs Report was actually great news for mortgage rates as it fueled a long-awaited rate drop. With unemployment trending higher, it’s more likely (almost guaranteed) that the Fed will finally start lowering the Fed funds rate in September. This means that we will start to see mortgage rates trend lower in anticipation of the Fed’s actions next month.
For more info, please check out my latest update.
If you’re considering buying or refinancing your home, please contact me. I am happy to help you or anyone you know!
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…]
Mortgage Rate Update for the Week of July 29, 2024
July 29, 2024 by Leave a Comment
We have a lot taking place that may impact the direction of mortgage rates this week, including the Fed meeting and a couple of reports with employment data.
Want to know more? Please check out my latest video.
And remember, if you or anyone you, know are considering buying, refinancing, remodeling or selling your home, I am honored to help you!
Understanding the Numbers Behind an Offer: Bidding Wars, Low Appraisals and Commissions
July 26, 2024 by Leave a Comment
Recently I wrote a post “How to Improve Your Odds of Getting YOUR Offer Accepted” which included this bit of advice:
“Understand the numbers: Bidding wars, low appraisals and commissions. Your mortgage professional should review strategies regarding how your offer may look like, including how long it will take to “break even” on bidding above the list price. What do your payments look like if you need to bid up $5K, $20K or more in order to “win” the bid. What happens if the appraisal comes in lower than expected? What if the seller is not offering to pay your real estate brokers commission? Understanding the numbers helps to reduce the stress involved with the “what ifs. You may be surprised that bidding up on a home doesn’t impact the payment as much as one would think as cost is amortized over 30 years with a typical mortgage.” [Read more…]
Mortgage Rate Update for the Week of July 22, 2024
July 22, 2024 by Leave a Comment
Mortgage interest rates are remaining fairly steady with potential to trend lower this week. If you’d like more details, check out my latest video!
Mortgage Market Update for the week of July 15, 2024
July 15, 2024 by Leave a Comment
Mortgage rates have been trending lower! Check out my latest video to see what may impact the direction of mortgage interest rates this week.
How to Improve Your Odds of Getting YOUR Offer Accepted
July 14, 2024 by Leave a Comment
The housing market in the Pacific Northwest remains competitive with the continued lack of inventory. Home buyers need to be patient and prepared for the process to possibly take a while. There are some actions that you can implement to help improve your odds of having your offer accepted over other offers. [Read more…]
Recent Comments