Helping Washington State homeowners learn more about their mortgage options.
This week’s calendar appears to be on the light side. Mortgage rates will be taking ques from the from stocks. All eyes will be on Congress with their vote on whether or not to be taking action against Syria.
The Treasury will start selling $65 billion in notes and bonds on Tuesday, which may also impact rates.
Here are the economic indicators scheduled to be released this week:
Earlier this week’ during our Seattle Real Estate Chat, Jim Reppond of Coldwell Banker Danforth and I discussed multiple offers, which we are seeing a lot of in the greater Seattle area.
Here’s our “show” from this week and learn more about what you need to know before you find yourself in a multiple offer situation.
If you have been waiting for Congress to pass HARP 3.0 or have been previously turned down for a refinance because of lost equity in your home, you might consider trying to refinance again.
Today is my son’s birthday. Although to me, it seems like just yesterday he was toddling around in his Barney slippers, he is now entering his third year of college. I simply could not be more proud of him.
The one piece of advice that I would offer anyone with children is to start saving for your child’s education NOW if having your son or daughter attend college is important to you. I’m thankful that I’m able to help my son out with his tuition. He does have student loans…however I’m at least able to help contribute. I set up an auto-payment into a 529 account years ago and before that, bought savings bonds. I didn’t miss what was taken from my checking account. Of course it did take a hit in recent years – but I’m still so glad I’ve been able to save some money for him.
It’s not only economic indicators that may impact the direction of mortgage rates, world events, such as what’s going on in Syria, may also cause rates to go down or up. This is because mortgage interest rates are based on mortgage backed securities (bonds) and when their is uncertainty in the world, investors may seek the safety of bonds, which tends to cause mortgage rates to improve. Remember, as the stock market improves, investors will trade the safety of bonds (like mortgage backed securities) for the potentially quicker returns found in stocks.
This week, Jim Reppond of Coldwell Banker Danforth and I sat down to discuss getting preapproved for a mortgage and why it’s so important for today’s hot Seattle’s real estate market.
I will be teaching a home buyer education class on Saturday, September 28, 2013 at the Columbia City Library located at 4721 Rainier Avenue South in Seattle. My co-instructor is non-other than Ira Sacharoff, Real Estate Agent with Better Properties Real Estate. Class begins at 11:45 am and ends around 4:45 pm.
We will be serving lunch. Please bring a snack if you have dietary concerns as we will not have a lunch break. Sign up for this class by clicking here.
Freddie Mac’s Home Possible Mortgage is a great mortgage program designed for first time home buyers. What’s so special about this program is that it allows a home buyer to qualify for dramatically reduced mortgage insurance premiums with a minimum down payment. The down payment may be gifted by a family member. No reserves are required for a single family dwelling.
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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