The Freddie Mac PMMS reveals little change in mortgage interest rates over the last week with the 30 year mortgage rate averaging 4.02% with 0.7 points.
Freddie Mac reports mortgage rates at 2015 highs
June 11, 2015 by Leave a Comment
Freddie Mac’s Primary Mortgage Market Survey reveals just how dramatically mortgage rates have gone up over the last month. Freddie Mac reports that last week, the 30 year fixed conforming mortgage (loan amount $417,000 or lower) interest rate averaged 4.04% priced with 0.6 points. [Read more…]
What May Impact Mortgage Rates this Week: June 8, 2015
June 8, 2015 by Leave a Comment
Mortgage rates have been marching higher. This week we have very few economic indicators scheduled to be released. Mortgage rates may take their directions from stocks – often moving in the opposite direction. Right now, rates for a jumbo mortgage 30 year fixed are lower than conforming rates!
Avoid Delays with Appraisals
June 4, 2015 by 8 Comments
Washington State has a couple of regulations that require certain safety features are installed in a home before a buyer can purchase it. When these items are not installed in the home at the time of the appraisal, or if the appraiser cannot easily find them, then the appraiser or underwriter will require that these items be installed prior to closing. This can potentially delay the closing and/or increase cost if the appraiser has to go back to the property to re-inspect for the missing items.
What May Impact Mortgage Rates this week: June 1, 2015
June 3, 2015 by 1 Comment
Here I am again, writing my “Monday rate post” on a Wednesday. This week has been busier than usual…I think part of that is spill over from the short week and more activity with home buyers. As this is the first week of June, we will have the Jobs Report on Friday which tends to impact the direction of mortgage rates.
Fannie Mae no longer requires revolving debts to be closed
May 30, 2015 by Leave a Comment
This week, Fannie Mae issued new underwriting guidelines for conforming loans approved through DU (Fannie Mae’s automated underwriting system). One of the new guidelines that is catching a lot of attention is that Fannie Mae will no longer require that revolving debts that are paid off in order to reduce a borrowers debt to income ratios and help them qualify, to also be closed. The new guidelines will allow a revolving debts that are paid down to zero balance to no longer be factored for qualifying purposes.
If I can help you with your purchase or refi mortgage needs for your home located anywhere in Washington state, please contact me.
IRS breach potentially delaying real estate transactions
May 29, 2015 by 3 Comments
Earlier this week, it was revealed that over 100,000 tax payers may have had their personal information stolen from the IRS. This data breach is potentially causing hiccups with real estate transactions currently in process too.
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