Washington State Mortgages, Made Clear. Buying or Refinancing? Let's find the right loan together.
Most loan officers do the same thing the moment you reach out: they ask for your income, pull your credit, and hand you a rate quote. Sometimes they skip even that and just send you an application link.
I do something different first — and after 25 years in the mortgage business, I believe it makes all the difference. [Read more…]
Is a 1% Drop Enough to Refinance?You’ve probably heard the old rule of thumb: “You shouldn’t refinance unless interest rates drop at least 1%.”
But is that actually true in today’s market?
If you bought your home when rates were 6.75%—or anywhere in that 6–7% range—and you see them dipping into the low 6s or high 5s, you’re likely wondering if that move is enough to make a refinance worth the effort. [Read more…]
If you bought your home in the past few years and your interest rate starts with a 6… or maybe even a 7… you’re not alone.
One of the most common questions I’m hearing right now is:
Last week I had fun creating a spoof where I’m consoling a drunk racoon, Rocky. Rocky has the blues because he decided to chase a low rate with an online lender and now his home purchase transaction is on a rocky road. All joking aside, I actually have saved several purchases where clients who first opted for an online lender with a slightly lower rate discovered that the loan officer and their lender could not close their transaction. It’s easy to promise a low mortgage rate but that low rate doesn’t matter at all if your transaction doesn’t close. [Read more…]
Mortgage interest rates have been VERY volatile with all the movement in the stock market. Typically, when the stock market is plummeting, we see mortgage rates improve. This is because mortgage rates are based on bonds and investors will seek the safety of bonds. In the markets we recently have been experiencing, the lower mortgage rates may be available for moments before moving higher.
