The Fed’s announcement today to leave the funds rate unchanged was not a surprise to the markets. What did send the bond market in a tizzy this afternoon was that the Fed ever-so-slightly moved the goal posts out a bit for inflation. [Read more…]
Fed Leaves Rates the Same BUT…
June 16, 2021 by Leave a Comment
Reduce your mortgage payment AND improve your your home with a refi
April 22, 2021 by Leave a Comment
Recently I helped some clients refinance their mortgage on their home in Tacoma. Not only did we dramatically reduce their monthly mortgage mortgage payment, they were able to make some improvements to their home. [Read more…]
Mortgage Rates Move Lower
April 8, 2021 by Leave a Comment
Freddie Mac released the Prime Mortgage Market Survey this morning showing mortgage interest rates have been trending lower.
The Mortgage Junk Mail Bag
March 29, 2021 by Leave a Comment
It’s been a while since I’ve written about mortgage junk mail. Today I have been presented the opportunity as a client I helped with their mortgage a few years ago reached out to me regarding some mail they recently received that appeared to have possibly come from our company, Mortgage Master.
The P.O. J. (piece of junk) appears to know a lot of information about the home owner – this is because your mortgage and original loan amount are public record. This type of marketing also tends to offer lower than available interest rates and things like “no payments for two months”…perhaps it features an offer code or a limited time offer. [Read more…]
Home Buyer Classes for Washington State
March 24, 2021 by Leave a Comment
If you are brand new or a little rusty at buying a home, there are some excellent options that are available for you. Some classes feature unique benefits for the students. Before taking one of the courses below, I suggest you reach out to a local, licensed Loan Officer to see if one class may be better suited for your home buying goals.
Here are a few online home buying classes you may want to consider: [Read more…]
Mortgage Rates trending higher
March 18, 2021 by Leave a Comment
It feels kind of funny to write about mortgage rates trending higher when they’re still in the three percent range…which historically, is an extremely low interest rate. However, we have all become accustomed to the pandemic-era rates below 3%. Check out how much rates have moved since February for the 30 year fixed (blue line) as illustrated with the PMMS report released today. EDITORS NOTE: Rates posted below are EXPIRED! Please click here for current mortgage rates.
A year ago, at this time, the PMMS reported the 30 year fixed rate averaged at 3.65%. A rate that is still far below what is a historically “normal” mortgage rate. [Read more…]
Big Expensive Changes for Second Homes and Investment Properties
March 11, 2021 by Leave a Comment
Last night, Fannie Mae announced they are essentially going to be limiting how many second homes and investment properties they will provide mortgages for. This is largely due to the additional risk associated with second homes and investment properties. This goes into effect with loans delivered to Fannie Mae on April 1, 2021 – which pretty much means “immediately” as mortgage loans are delivered to Fannie Mae (or Freddie Mac) after they close…sometimes weeks after they close with the originating mortgage company. [Read more…]
Mortgage Rates Jump on Good News and Inflation
February 25, 2021 by Leave a Comment
Mortgage rates jumped roughly 0.25% today in rate (or about 1% in discount points) today because of strong economic data and possibly signs of inflation. Costco announced it will be raising their minimum pay to $16 per hour – which is great news for Costco employees – however, it’s wage inflation (which we will probably see more of). When wages go up, the cost of goods will follow. Inflation drives mortgage rates higher because of the impact to bonds, like mortgage backed securities. [Read more…]
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