Rain City Guide

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  a minimum credit scores of 680 with an 80% loan to value or lower, a loan amount of $400,000, and with reserves (taxes & insurance) not being waived.   Rates quoted [...]

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 rates continue to be very attractive, however this may change at a moment’s notice.  A rule of thumb to watch for is when the stock markets are tanking, mortgage rates may be improving.  This is because investors will seek the safety of bonds (with mortgage rates are based on).  The reverse may also be true: when the [...]

Mortgage guidelines continue to tighten.   Most recently, I’m seeing some lenders extend credit score-risk based pricing to FHA and VA mortgages.  Second mortgages have increased credit score requirements and have pulled back the total loan to value they will lend.   If you are putting less than 30% down and are considering obtaining a mortgage in the next [...]

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 [...]

This morning’s Jobs Report provided a higher figure of 94,000 new jobs over the anticipated 70,000 helping to erase the improvments to the 30 year fixed conforming rates that we’ve seen during this week. This illustrates how much bonds react negatively to inflation.
The next major influence on mortgage bonds will be [...]

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 [...]

Banks and most mortgage companies will be closed on Monday, November 12, 2007 in honor of Veterans Day.
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 [...]

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 [...]