Helping Washington State homeowners learn more about their mortgage options.
My apologies for being a couple days late on this post which is typically published on Mondays… I had Monday off (it was my birthday) and with taking a day off, I had fun catching up on emails yesterday.
For my birthday, my husband and I went to Pinot country in Oregon – it is absolutely beautiful. If you enjoy pinot noir or crisp white wine, I recommend you check it out!
$372 is the average monthly savings that my clients who have closed on their refi’s so far in March. With higher appraised values, thanks to the hot real estate market driving up home prices, many clients are also eliminating mortgage insurance with their refi.
My apologies for being a day late on my “Monday Rate Post”…I’ve been busy working on transactions in process and new refi and purchase loans. Biz has to come before blog. However, I have a few moments now to share with you the economic indicators scheduled to be released this week, which is on the lighter side.
Recently my husband and I considered buying an investment home in West Seattle. We began the preapproval process so that we could present an offer with a bona fide preapproval letter. We gathered our W2s, tax returns, bank statements and paystubs…and had our credit report pulled.
This being the first week of the month, means that Friday, we will have the Jobs Report. Last month, the better than expected Jobs Report sent mortgage rates trending higher.
Here are some of the economic indicators scheduled to be released this week:
In today’s competitive housing market, we are seeing more buyers using “all cash” to purchase their homes. Delayed financing allows home buyers who pay cash for a home to obtain cash out, using a refinance, without it being treated as a “cash out” refi. A “cash-out” refi has stricter requirements, including having to wait 6 months after closing before being able to refi. Delayed financing allows home owners to recoup the cash used to purchase the home.
This week is packed full of economic indicators and events that may influence the direction of mortgage interest rates, including Fed Head Janet Yellen’s two day testimony in front of Congress which starts tomorrow. Here’s a list of economic indicators scheduled to be released this week:
RealtyTrac and Down Payment Resource recently compiled a report of how many homes are eligible for various down payment assistance programs by county. Their report revealed that 87% of homes in the United States may qualify for down payment assistance (DPA) for home buyers.
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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