Today Freddie Mac released their Prime Mortgage Market Survey which basically shows an average of conforming rates for the previous week. The report shows mortgage rates at their highest for 2017 with the 30 year fixed rate at 4.21% priced with a half point. 
Freddie Mac reports interest rates at their highest of 2017
March 9, 2017 by Leave a Comment
Dr. Carson sworn in as new HUD Secretary
March 3, 2017 by Leave a Comment
Yesterday, Dr. Ben Carson was formally sworn in as the Secretary of HUD. Secretary Carson, from HUD’s press release, stated:
“”I am immensely grateful and deeply humbled to take on such an important role in service to the American people,” said Secretary Carson. “Working directly with patients and their families for many years taught me that there is a deep relationship between health and housing. I learned that it’s difficult for a child to realize their dreams if he or she doesn’t have a proper place to live, and I’ve seen firsthand how poor housing conditions can rob a person of their potential. I am excited to roll up my sleeves and to get to work.” [Read more…]
How are property taxes determined?
March 3, 2017 by Leave a Comment
Recently, after receiving a rate quote, a home buyer asked me, “What would the difference in taxes be if I bought in Pierce County verses King County?” [Read more…]
Mortgage interest rates stabilizing
February 16, 2017 by Leave a Comment
Freddie Mac’s PMMS was released this morning showing that mortgage appear to be calming down…for now.
Cash Out Refinance
January 27, 2017 by Leave a Comment
Homes in the greater Seattle – King County area have been experiencing higher home values. The demand for homes with the strong employment market in Seattle and lack of inventory has been pushing home prices higher and higher. What is not great news for home buyers wanting to live in the greater Seattle area, this does create an opportunity for homeowners. Homeowners can either sell their home to take advantage of the appreciate that we currently have, or they can consider a cash out refinance. The reasons for a cash out refinance can vary from wanting to consolidate debts, funding retirement, cashing out an ex-spouse or improving your home…just to name a few. [Read more…]
BREAKING NEWS: FHA Mortgage Insurance reduction SUSPENDED INDEFINITELY
January 20, 2017 by Leave a Comment
As President Trump’s inauguration ceremony is in process, HUD has suspended the reduction of the annual FHA mortgage insurance indefinitely. Mortgage Letter 2017-07 cancels Mortgage Letter 2017-01, issued by HUD just 9 days ago. [Read more…]
Will the recent FHA Mortgage Insurance Reduction be Trumped?
January 18, 2017 by Leave a Comment
HUD Secretary Castro proudly announced the reduction of FHA’s annual mortgage insurance premium just a week ago as his parting gift of tenure before having to leave his position. There has been a lot of discussion on if this will be an action that Trump’s new administration will roll back. [Read more…]
HUD’s reducing Mortgage Insurance on FHA Mortgages
January 9, 2017 by Leave a Comment
UPDATE January 20, 2016: HUD has suspended the reduction to FHA mortgage insurance effective immediately.
HUD has announced today that mortgage insurance will be reduced on most FHA mortgages. FHA mortgages have two types of “mortgage insurance” the borrowers pay regardless of loan to value. There is the upfront mortgage insurance (currently 1.75% of the loan amount) that is typically added to the base loan amount and financed over the life of the loan and there is the annual mortgage insurance that is actually paid as part of the monthly mortgage payment. This reduction of 25 basis points is on the annual mortgage insurance premium.
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