This is a short week, thanks to the Memorial Day weekend. Mortgage rates continue to be volatile following the Fed’s commentary that they may start hiking rates soon. Remember, the Fed does not directly control mortgage rates – the Fed does control the Fed funds rate. Mortgage rates react to the Fed’s actions as mortgage rates are based on bonds (mortgage backed securities) and are bought and sold, like stocks. Speaking of stocks, yesterday the Dow had it’s biggest loss in three weeks closing down 190 points.
What May Impact Mortgage Rates this Week: May 26, 2015
May 27, 2015 by 1 Comment
Do you own a rental property in Seattle? Read this!
May 21, 2015 by 3 Comments
If you own rental property located in Seattle, you need to be aware of fairly new requirements, created by the Seattle City Council, to register your investment property. This city ordinance, the Rental Registration and Inspection Ordinance (RRIO) impacts landlords and property managers who have multiple units to those who have just one rental home. There are some exceptions, check the ordinance for more information.
HomeStyle Mortgage is now available at Mortgage Master Service Corporation
May 19, 2015 by Leave a Comment
The HomeStyle mortgage is Fannie Mae’s version of an FHA 203k rehab mortgage. Fannie Mae HomeStyle allows home buyers to finance improvements and/or repairs with their purchase or with a refinance. This allows home owners to have just one mortgage payment while enjoying upgrades made to their home.
Just like a 203k loan, HomeStyle requires that you work with a consultant to determine what repairs will be required and help advise on improvements. If you’re buying a home and using HomeStyle for your financing, the consultant’s report may also serve as your home inspector.
What May Impact Mortgage Rates this Week: May 18, 2015
May 18, 2015 by 1 Comment
Mortgage rates have been seen more volatility over the last few weeks than what we’ve experienced in quite a while. Mortgage rates have been trying to trend higher.
Here are some of the economic indicators that are scheduled to be released this week:
Want to stop your rent from increasing? Buy a home.
May 15, 2015 by 1 Comment
It’s no secret that rents, along with home prices, in the greater Seattle area have been trending higher. Rent Jungle reports that as of March 2015, the average rent for a 2 bedroom apartment within a 10 mile radius of Seattle is $1907. This is up 4% in the last six months.
HARP extended through 2016
May 12, 2015 by 1 Comment
Earlier this week, Director of the FHFA, Mel Watts announced that HARP (the Home Affordable Refinance Program) will be extended for one more year. From his prepared remarks:
“The HARP program allows borrowers, including those who are underwater on their mortgage and who are regularly making their mortgage payments, to refinance their loans to take advantage of historically low interest rates.
What May Impact Mortgage Rates this Week: May 11, 2015
May 11, 2015 by 1 Comment
I hope all you Mom’s had a wonderful Mother’s Day yesterday. I was lucky to be able to spend all day Saturday with my mom, who helped me during the West Seattle Community Garage Sale and to have lunch with her and my family on Sunday. My son and hubby made me a delish dinner last night… I can’t think of a better Mother’s Day. 🙂 This photo is a pic of my mom with her daughters at Disneyland.
Freddie Mac reports mortgage rates trending higher
May 7, 2015 by Leave a Comment
Freddie Mac released their weekly report on average mortgage rates for last week. From the PMMS Report:
Recent Comments