Rain City Guide

RCG’s Jillayne Schlicke was interviewed on King 5 last night…I wish her spot would have been longer.  Check her out here!  The piece is about resetting subprime adjustable rate mortgages.   King 5’s, Chris Daniels reports that locally, we’ll see around 12,000 subprime mortgages reset over the next 6 months.  Combined with lower home values and [...]

I’m going to put on my thinking cap for how I’ll do future rate post…I’ll have to play around with this as rates are becoming more challenging to provide a broad quote. These are historic times and I’m glad to be experiencing this first hand…maybe I’m being positive because it’s Friday! [...]

We are in “limbo” while we wait for Fannie/Freddie and the lenders to figure out what the pricing will be for the temporary conforming loan limits.
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based on owner occupied, “full doc” purchase with minimum credit scores of [...]

T.G.I.F!  Mortgage interest rates have improved slightly since this morning by 0.125% across the board.  Jumbo rates jumped up significantly on Wednesday.  And as if this week didn’t provide enough drama, next week is packed with events that assures another volatile ride with mortgage interest rates.   As always, I strongly recommend locking.   In this market, rates may change as soon as [...]

Mortgage interest rates continue their journey upwards after the release of the PCE (Personal Consumption Expenditure) coming in higher than expected at 2.2%.   The Fed prefers to see this index at no higher than 2%.  As this economic indicator is pointing towards inflation.  At this time, it is likely the Fed will be forced to lower [...]

The conforming 30 year fixed rate is at a 2 year low…how long will this last? No one knows for certain and this is why I always recommend locking in your rate and not floating. A week from today is the first Friday in December which means it’s also the day the [...]

Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). Conforming rate quote below based on owner occupied, “full doc” with minimum credit scores of 680 with an 80% loan to value or lower and a loan amount of $400,000. Rates quoted are priced based on a 45 day lock with [...]

Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties).  Conforming rate quote below based on owner occupied, “full doc” with minimum credit scores of 680 with an 80% loan to value or lower and a loan amount of $400,000.   Rates quoted are priced based on a 45 day lock with 1 point and [...]

I was at my massage therapist yesterday (I was in an auto accident last July) and she was “talking mortgage” with me because she thought I find the conversation relaxing. :)  She recently was in the process of going through a refinance (with someone else, aahhhh…even more soothing) and discovered she has a prepayment penalty of $7,000 [...]