Helping Washington State homeowners learn more about their mortgage options.
Many homeowners in our area may be sitting on quite a bit of home equity that they could use to purchase their next home. When it’s not a “buyer’s market”, you may have lower odds of a seller wanting to accept an offer if it’s based on needing to sell and close on an existing home. In order to have your offer accepted, it’s helpful to put forward an attractive offer that will make it easier for the seller to select your offer over others.
Here are some programs that can help! [Read more…]
J
im 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. [Read more…]
This week’s mortgage rate update features information on our down payment assistance program. Check it out!
Where are mortgage interest rates and what may impact the direction of rates this week, plus a new program to help more people on the path to home ownership.
We have jobs data this week and we have Trump’s tariffs potentially impacting mortgage rates. In this episode, I share how loan level price adjustments are used to determine mortgage rates. Check out all this and more in my weekly update!
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…]
Tariffs, Trade Wars, China’s AI and then… we have our scheduled economic data that may impact rates this week, including the wrap up of the 2-day FOMC meeting on Wednesday. Check out my latest video to learn where rates are and more!
By the way, if you or someone you know are wanting to buy a home, refinance or have been turned down for a mortgage, please contact me! I’m happy to help.
Buying your first home is such an exciting and important time of your life. It’s a big step in creating financial freedom for your future. First homes are often referred to as a “starter home” as people tend to live in the home for a shorter period of time and use the equity they gain from appreciation and paying down the mortgage towards buying their next home. [Read more…]
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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