refi – Page 3

Mortgage Rates are LOW!! It’s time to refi…again!

May 6, 2016 by Rhonda Porter Leave a Comment

Going Down Arrow Mortgage rates have been very low the past couple of days creating a flurry of refinances.

Just how low? Try 3.500% for a 30 year fixed conventional mortgage (apr 3.652%) priced with 1.152 points.

And how about 2.750% for a 15 year fixed conventional mortgage (apr 3.022%) priced with 1.199 points.

Rates quoted above are as of May 6, 2016 as of 12:30 pm PST and are subject to change at any time and are subject to credit approval. Click here for your no hassle mortgage rate quote for homes located anywhere in Washington state.

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Freddie Mac PMMS “Lower than expected” Mortgage Rates!

February 4, 2016 by Rhonda Porter Leave a Comment

feb 4 pmms
This morning Freddie Mac released their weekly Prime Mortgage Market Survey report with a title that I couldn’t agree with more: “Lower-than-expected mortgage rates offer refinance opportunity“.

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Filed Under: Interest Rates Tagged With: interest rates, refi

Mortgage Rates drop to lowest of 2016

January 15, 2016 by Rhonda Porter Leave a Comment

mortgageporter-economy The DOW is getting hit hard again today. As I write this (10:16 am PST), the Dow is down 446! Bad news for the stock market equals good news for mortgage interest rates. Investors are seeking safety by pulling funds from stocks and investing in bonds, like mortgage backed securities.

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Filed Under: Interest Rates Tagged With: interest rate, refi

Freddie Mac Reports that Mortgage Rates continue to trend Lower

January 14, 2016 by Rhonda Porter 1 Comment

PMMS Jan 14 2016 The Prime Mortgage Market Survey reports that last week, the 30 year fixed averaged 3.92 percent with an average 0.6 point. The week prior, the reported average was 3.97 percent. A drop in rate of 0.05%.

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Filed Under: Interest Rates Tagged With: mortgage rates, purchase, refi

Steps in the Mortgage Process when you are Refinancing a Home

November 10, 2015 by Rhonda Porter 19 Comments

The process of getting a mortgage consists of several stages and typically takes anywhere from 30 – 45 days (or more) depending on how prepared you are, what mortgage program you have selected and if it’s a purchase, the closing date may dictate how long the process will take. With this post, I’m focusing on the steps involved with obtaining a refinance (aka refi) which are slightly different than the process when you are buying a home.

The steps below may not take place in the exact order I have listed and some steps may happen simultaneously. In addition, some lenders may have different procedures with how they process a mortgage.

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Filed Under: Refinance, The Mortgage Process Tagged With: ce, LE, refi

Puget Sound’s Hot Real Estate Market is Good News for Refis

October 22, 2015 by Rhonda Porter Leave a Comment

It’s no secret the the Puget Sound region has been experiencing a very hot real estate market… so hot in fact that it may be causing some home buyers to feel a little burned from competing with multiple offers as well as renters contending with rapidly rising rents. Recently KOMO 4 News shared that that Seattle currently has the nations hottest housing market. This is not only good news for those who are wanting to sell their homes, it’s also good news for home owners who may benefit from a refinance.

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Filed Under: Refinance Tagged With: appraisals, pmi, refi

HARP extended through 2016

May 12, 2015 by Rhonda Porter 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.

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Filed Under: HARP - Home Affordable Refi Tagged With: harp, refi

What would you do with an extra $372?

March 13, 2015 by Rhonda Porter Leave a Comment

$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.