This week, it’s safe to say that all eyes and ears will be on the Fed as they wrap up their meeting this Wednesday. If they indicate they will pull back on their support of keeping mortgage rates low, then expect to see rates trend higher. We’ll know more on Wednesday! With many traders on vacation during the holiday season, we can also anticipate that the markets may be more volatile than they would typically be.
What May Impact Mortgage Rates this Week: December 16, 2014
December 16, 2013 by Leave a Comment
2014 FHA Loan Limits Reduced in Washington State
December 12, 2013 by Leave a Comment
UPDATE: Please visit our FHA Guide that includes current FHA loan limits for homes located in Washington state.
Last week, HUD announced the FHA loan limits for 2014 with most counties in Washington having loan limits reduced from 2013 levels. In the Seattle/King County area, FHA loan amounts for a single unit dwelling will be reduced by $61,500 from $567,500 to $506,000 in 2014. Kitsap County was hit the hardest with a reduction of $167,950 for single unit dwellings. The higher loan limits that we have appreciated over the past few years were intended to be “temporary” and HUD has been attempting to shrink FHA’s footprint, so we shouldn’t be too surprised over the lower loan limits.
Protect your Preapproval Status over the Holidays
December 11, 2013 by 1 Comment
Tis the Season for holiday shopping. The aggressive sales push this year started BEFORE Thanksgiving with more mega-stores even remaining open on a day when employees should have had the day off (or at least had working on Thanksgiving as being “optional”).Cyber Monday is now cyber week…anyhow, my point is, stores are competing for your dollars. If you are considering buying a home or are currently pre-approved to buy a home, I thought I’d share some tips for you on how to make sure your “pre-approved” status is not jeopardized during the holiday season.
What May Impact Mortgage Rates this Week: December 9, 2013
December 9, 2013 by Leave a Comment
This week’s calendar of economic indicators is very light compared to last week. Here’s what is scheduled to be released this week:
2014 FHA Loan Limits for Washington State
December 7, 2013 by 3 Comments
UPDATE: Visit our complete FHA guide which includes current FHA loan limits for homes located in Washington state.
FHA loan limits for 2014 have been reduced from 2013. For a home located in greater Seattle, the new FHA loan limit is reduced from $567,500 to $506,000 in 2014. The reductions are across the board for Washington state counties and some loan limits are below 2014 conforming loan limits.
FHA streamline refinances without appraisals and with loan amounts over the the 2014 loan limits will not be subject to the new loan limits.
