I can’t take credit for the catchy phrase “Marry the house. Date the rate”. It’s being posted by mortgage professionals and real estate agents all over social media. What does this phrase mean? [Read more…]
Marry the House. Date the Rate.
June 22, 2022 by Leave a Comment
Arts in the Park in Puyallup
June 19, 2022 by Leave a Comment
Yesterday I had the opportunity to participate at Arts in the Park at the Pioneer Park Pavilion in Puyallup. This was my first time demonstrating and being on the other side of the booth at an art fair. I really had a great time.
Mortgage rates pushing higher
June 14, 2022 by Leave a Comment
Mortgage interest rates have been moving higher at a pace not seen in years. If you’ve been a subscriber to The Mortgage Porter, you may recall that I often say mortgage rates move up much faster than they come down…the jump over the last few days has surprised many. [Read more…]
Using Cryptocurrency for a Down Payment
June 7, 2022 by Leave a Comment
Cryptocurrency, like Bitcoin, CAN be used for funds for closing on a home as long as the cryptocurrency (i.e. virtual currency) meets certain criteria. Fannie Mae and Freddie Mac require that the funds be exchanged into U.S. dollars and that held in a U.S. regulated financial institution. In order to use conventional financing, there needs to be enough documentation to meet conventional guidelines, including: [Read more…]
Mortgage Rates slightly improved
May 26, 2022 by Leave a Comment
NOTE: Rates posted below are expired. For current rates on homes located anywhere in Washington state, please click here.
Freddie Mac’s Prime Mortgage Market Survey released this morning shows that mortgage rates have been slightly improving.
It’s important to note that this data is from last week and that these rates are not current. This graph merely illustrates the movement of interest rates over the 12 months. The bottom row actually dates back to 1970. [Read more…]
Fed Raises Funds Rate a Half Point
May 4, 2022 by Leave a Comment
Today wrapped up the two-day FOMC meeting and Chairman Powell announced that the funds rate will be increased by a half point. As of today, the federal funds rate is 0.75-1% and is expected to another 2 percent by the end of the year.
From the FOMC statement: [Read more…]
A Hopeful Sign for Homebuyers
April 25, 2022 by Leave a Comment
This has been one of the most challenging markets for homebuyers that I have seen in my 20+ years as a mortgage professional in the greater Seattle area. The lack of inventory has created a frenzy allowing sellers to name their extraordinary price with bidding wars leaving many buyers exhausted and warn out from this highly competitive market. [Read more…]
Freddie Mac’s PMMS Report Illustrates Rising Mortgage Rates
April 7, 2022 by Leave a Comment
Every Thursday, Freddie Mac releases the Prime Mortgage Market Survey which shows average rates from last week (this data is not current for today since it’s an average of last week’s applications). The survey is based on purchase applications with at least 20% down payment with excellent credit. So if you’re doing a cash-out refi, have less than stellar credit or have a higher loan to value, your rates would most-likely be higher than what’s shown on the survey.
UPDATE: Rates shown below are not current. Please click here for a mortgage rate quote based on your personal financial scenario for your home located in Washington state. 
[Read more…]
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