This is a painting on black velvet that I did of our Fed Chairwoman, Janet Yellen, that hangs in my office. All eyes and ears will be on the Fed after the two day meeting FOMC meeting wraps up today. Here are some of the economic indicators scheduled to be released this week:
What May Impact Mortgage Rates this Week: September 15, 2014
September 17, 2014 by 1 Comment
Congratulations to the Washington State Housing Finance Commission!
September 14, 2014 by Leave a Comment
I’ve just learned that last month, the Washington State Housing Finance Commission did their 50,000 closing! In other words, WSHFC has helped over 50,000 families buy a home in Washington state using one of their first mortgage and down payment assistance programs. The 50,000th home buyers are from Federal Way and represent a typical Home Advantage home buyer:
Changes to USDA Mortgages
September 12, 2014 by Leave a Comment
USDA offers mortgages with no down payment for homes that are located in designated rural areas to borrowers who meet household income limits. The mortgage rates are very competitive and the mortgage insurance (technically called “guarantee fees”) are very affordable. It’s truly a great program for those who qualify and are buying a home in rural areas, like Duvall, Enumclaw or Anacortes.
Recently, USDA issued Handbook 3555 with updated regulations for USDA mortgages. Here are just a few of the changes:
What May Impact Mortgage Rates this Week: September 8, 2014
September 8, 2014 by Leave a Comment
This week’s calendar of economic indicators seems light, especially following last week that included the Jobs Report on Friday.
Remember, mortgage rates are based on bonds (mortgage backed securities) and often change throughout the day. Sometimes mortgage rates change only slightly by price (the cost for a specific rate) and of course, we can see dramatic rate changes as well. The direction of mortgage rates may be influenced by scheduled economic data, the direction of the stock market, inflation or even world events.
Freddie Mac’s Mortgage Rate Survey reveals some of the lowest mortgage rates of 2014
September 4, 2014 by 1 Comment
Today Freddie Mac released their Primary Mortgage Market Survey showing the 30 year fixed rate at some of the lowest levels for this year. Freddie’s PMMS is based on survey of various lenders from rates quoted the previous week and is intended to show consumers what the average rate and points for that rate were last week.
What May Impact Mortgage Rates this Week: September 1, 2014
September 1, 2014 by Leave a Comment
Happy Labor Day! Our office is closed today and will re-open for business as usual tomorrow morning at 9:00 am. This photo is from an hour or so ago at the dog park at Luther Burbank Park on Mercer Island. My hubby is tossing a bumper for our pup, Hitch (the black one to the right) and has a few other pups who are interested in playing too. What a gorgeous September day this is – I hope you and yours and having a wonderful holiday.
I’m BACK from my Pointless vacation in the San Juan Islands and British Columbia
August 31, 2014 by Leave a Comment
I’m back home in Seattle from a two week (okay, just over 2 week) vacation on our sailboat, Pointless. We cruised the San Juans, up to Princess Louisa Islet and returned home via the Canadian Gulf Islands. The sailboat is newer to us – we’ve had it almost a year. She’s a Valiant 40 that was built in 1985. We purchased her from the original owners who sailed her around the world while living aboard. My husband has spent the last year lovingly sprucing her up and this vacation was the longest voyage she (or I) have been on to date!
Home Buyer Class in Seattle
August 13, 2014 by Leave a Comment
I will be teaching a home buyer class in Seattle with Jim Repppond of Coldwell Banker Danforth on Saturday, September 13, 2014 at the Broadview Library in Seattle.
The class is sponsored by the Washington State Housing Finance Commission. Students who attend are eligible for programs like Home Advantage or House Key Opportunity (the Washington state bond program) or Freddie Mac Home Possible. Students are also eligible for various down payment assistance programs and MCC (mortgage credit certificates).
If you are considering buying a home with your spouse, partner or friend, they will need to attend the class with you to qualify for the programs. You do not need to be a first time home buyer to qualify for many of the mortgage programs. And of course, you’re welcome to attend if you’re not interested in down payment assistance programs and you just want to learn more about the home buying process.
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