Good morning! It’s just before 7:00 am PST as I’m writing this post. In a couple of hours, we’ll hear the announcement from the FOMC wrapping up their two day meeting on measures they will take to get inflation in line, which includes adjustments to the Fed Funds rate. The Fed Funds rate does not directly impact mortgage interest rates (except for HELOCs attached to the Prime rate), however the action the Fed takes does influence the direction of mortgage interest rates. Mortgage interest rates are based on bonds (mortgage-backed securities or MBS) and react similarly to stocks. Inflation is the “arch enemy” of bonds, which is a big part of why mortgage rates have been higher these past few years. Should the Fed indicate that inflation is taming and investors believe what the Fed is saying, we should see mortgage rates improve…and of course, the opposite is true. [Read more…]
It’s Fed Day! [Live Post] No Change to the Fed Funds Rate!
A Modern Mortgage: The All In One Loan
You’ve probably figured out by now that I’m a pretty big fan of the All In One Loan. I encourage you check out the simulator so that you can see how differently this mortgage works. The simulator shows a side by side comparison of a traditional 30 year mortgage to the All In One Loan that I think you’ll find interesting. [Read more…]
Resource Guide on the All In One Loan
I recently put together a new resource guide on the All in One Loan. The more I learn about this program, the more I appreciate this mortgage. I think it is probably the best mortgage available for most people if they qualify for it. [Read more…]
Holy cats! My credit card interest rates!
I decided to take my own advice that I’ve been dishing out about credit cards and debts. Today I reviewed my credit card accounts to see what my current interest rates are. I’m pretty lucky to have great credit and that I’m able to pay off my debts monthly. [Read more…]
Home Equity Loans and Home Equity Lines of Credit
If you have been wanting to spruce up your kitchen, bathroom or any part of your home and you don’t want to touch your low interest rate on your existing mortgage, a second mortgage could be an option worth considering. [Read more…]
Home Equity Loans and Second Mortgages
Home equity lines of credit (often referred to as HELOCs) and fixed rate second mortgages are available again at Mortgage Master Service Corporation.
You can use a home equity loan or fixed-rate second mortgage to access home equity without doing a cash-out refinance of your first mortgage. This may be really desirable considering the appreciation of homes and recent low mortgage rate environment. Click here for current mortgage rates for your Washington state home.
Here are some of the features: [Read more…]
My Seattle Kitchen Remodel: Selecting Countertops
A few weeks ago, I shared that we’re remodeling our kitchen. Boy-oh-boy what a chore it is…we started the process months ago and are just starting to see light at the end of the tunnel. As I’m going through this first hand, I thought I’d share tidbits of things we’re learning along the way. Today, I’ll share the story of our kitchen counters.
Let’s start by discussing what we had on our “old” kitchen (photo above). [Read more…]
Second Mortgages and Home Equity Lines of Credit
Mortgage Master Service Corporation has second mortgages (home equity lines of credit aka HELOC) available for homes located anywhere in Washington state. The second mortgage/HELOC is limited to owner occupied/primary residences and second homes. They are not currently available for investment property. [Read more…]
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