What May Impact Mortgage Rates this Week: September 8, 2014

September 8, 2014 by Leave a Comment

mortgageporter-economyThis 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.

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Filed Under: Economy

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.

2014-09-04_1205_Freddie_Mac_Mortgage_Rate_Survey

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Filed Under: Fannie, Freddie and FHFA, Interest Rates

What May Impact Mortgage Rates this Week: September 1, 2014

September 1, 2014 by Leave a Comment

10626879_10152256097026046_1092128899241203089_nHappy 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.

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Filed Under: Economy

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!

Pointless Jones Island Aug 2014

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Filed Under: Just for Fun, Sunday Drive - Neighborhood Tours Tagged With: ,

Home Buyer Class in Seattle

August 13, 2014 by Leave a Comment

Seattle Home Buyer ClassesI 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.

Space is limited, so please RSVP today:

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Filed Under: Classes for Home Buyers, Down Payment Assistance Tagged With: , ,

What May Impact Mortgage Rates this week: August 11, 2014

August 11, 2014 by Leave a Comment

mortgageporter-economyThis week’s economic calendar is on the lighter side.  Here are some of the economic indicators scheduled to be released this week:

  • Wednesday, August 13: Retail Sales
  • Thursday, August 14: Initial Jobless Claims
  • Friday, August 15: Producer Price Index; Empire State Index; Consumer Sentiment Index (UoM)

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Filed Under: Interest Rates Tagged With:

Where do I start with an FHA 203k Rehab loan?

August 7, 2014 by Leave a Comment

mortgageporterhouseI just received this question from one of my readers:

My wife and I are very interested in pursuing a 203K type mortgage, but do not know where or how to start.  I would appreciate any assistance you could offer.  Thanks!

An FHA 203k mortgage allows improvements to be made to a home using an FHA insured mortgage. The borrower is able to finance the cost of the improvements with one mortgage. Since it is an FHA mortgage, it has a reduced down payment, FHA upfront and monthly mortgage insurance and the loan is subject to FHA loan limits in the county the property is located in.

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Filed Under: FHA Tagged With: , , , ,

What May Impact Mortgage Rates this week: August 4, 2014

August 4, 2014 by 1 Comment

2014-07-05 09.46.57I hope you’re enjoying your summer. Can you believe that it’s already August? Tomorrow, August 5, 2014, is Seattle Night Out (actually, National Night Out) and many neighborhoods will be getting to know each better over block parties and/or pot luck dinners during this annual crime prevention event. This is a great excuse to get to know your neighbors better so if you don’t have anything planned tomorrow, why not knock on a few doors and have an impromptu pot luck? 🙂

Photo: Our puppy, Hitch, having fun with one of his neighbors, Sadie.

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Filed Under: Economy, Interest Rates Tagged With: , , ,
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