Helping Washington State homeowners learn more about their mortgage options.
Fannie Mae (conventional lending) recently changed their underwriting guidelines to no longer factor in credit scores for underwriting approval!
Before this guideline change, borrowers needed to have a mid-score of at least 620 to qualify for a conventional mortgage. Scores below 620 could mean that someone may have to opt for an FHA mortgage, which has both upfront and monthly mortgage insurance regardless of the amount of down payment or equity with the property. [Read more…]
We (finally) have the BLS Jobs Report coming out this week. Will this impact the direction of mortgage rates if the report is for September?
Check out this and more in this week’s episode.
If you’re thinking about buying or refinancing a home, let’s talk!
Our homebuyer workshop series continues on December 3, 2025 from noon to 1pm Seattle-time. This workshop will take you from getting prequalified to preapproved and pre-underwritten stages of the home buying process. [Read more…]
It’s Monday and time for the latest episode of The Mortgage Porter Weekly!
This week, we’re talking about mortgage rates trending slightly higher, no real economic news with the government shutdown and the big buzz topic in mortgage right now, the 50-year mortgage.
Over the weekend, the administration bounced the idea of having a 50-year mortgage. This was followed up by the FHFA director, Bill Pulte, stating that they are working on a plan. The reactions to this announcement are across the board with some embracing it as the miracle that will help create more affordability to others viewing it as a subprime product. Mortgage originators have been quick to post rates comparing 50 year mortgage to what may be available with a 30-year. Even if this product becomes available, in my opinion, it’s highly unlikely a 50-year amortized mortgage will have the same rate as a 30-year fixed. Just look at how mortgage rates are priced when you compare a 30-year to a 15-year amortized mortgage. Click here for current mortgage rates for your personal scenario. [Read more…]
Wondering how lenders decide how much home you can afford?
Join me for the next session in my First-Time Homebuyer Workshop series where we’ll break down:
Date: Wednesday, November 12, 2025
Time: 12:00 – 1:00 pm (Lunch & Learn)
Where: Free Zoom Webinar — cameras off, learning on!
RSVP at www.mortgageporter.com/education
Attendees get access to an online dashboard with recordings of all past workshops, including sessions on credit and down payment strategies.
Let’s make sure you’re fully prepared to qualify with confidence!
How are mortgage rates doing following the Fed rate drop last week and what’s on the calendar this week that could influence the direction of mortgage rates? Check out my latest episode of The Mortgage Porter!
If you would like to see current rates based on your personal financial scenario, I’m happy to provide you with a no-hassle mortgage interest rate quote!
The Fed cut rates to the Funds Rate by 25 basis points today, as expected. Although the Fed Funds rate is lower, mortgage rates are actually moving higher as I’m writing this. Mortgage rates are NOT controlled by the Fed.
Mortgage-backed securities are down about 32 basis points.
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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