Rain City Guide

Rates continue to be very volatile…I’ve seen up to 3 rate sheets from one lender so far today.  Consumer Sentiment came in at an all time low and bonds did ralley early on but have lost their gain.   To see live rate quotes for various scenarios, check out my Twitter.
Conforming Mortgage Rates (loan amounts up [...]

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 sales price of $500,000 and a loan amount of $400,000.  This scenario includes reserves (taxes & insurance) not being waived.   Rates quoted are priced based on a 45 day [...]

Long term fixed conforming rates are slightly improved since this morning…however rates across the board are up compared to last Friday’s rate post. The markets continue to be very volatile and those who play the “floating game” with their rate, may get washed up.
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). [...]

Earlier this month I wrote about Zillow stepping into the mortgage rate quote arena…well tonight’s the big night. They are scheduled to launch at 9 p.m. PST. I’m honored to have been included as one the mortgage professionals to review their product and it will be interesting to see how it develops. [...]

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! [...]

There is only so much escrow can do when escrow receives loan docs at 5pm and the borrower must sign because an interest rate lock is about to expire and the rescission period puts their back against the wall, forcing them to sign the very same day (evening). Then the borrower (s), strangely unaware [...]

Today, negative economic news caused a significant sell off and traders “leaped” from stocks to the security of bonds, such as mortgage backed securities. Rates have improved by roughly an 0.125% since this morning. Mortgage rates remain highly volatile and (as always) I recommend locking over floating…especially as we get closer [...]

By mid-March, HUD is required to publish what they determine to be median home prices which Fannie Mae and Freddie Mac will be using for what the temporary loan limits will be (125% of the median home price). I’m hopeful that Fannie, Freddie and banks are working dilingently NOW on what the guidelines and [...]

Conforming Rates: based on a sales price of $500,000 with a loan amount of $400,000 and minimum credit score of 680, full-doc mortgage with reserves (taxes and insurance included in the mortgage payments). Rates are priced based on a 45 day lock and are priced with 1 discount/origination point.
30 Year Fixed: 6.000% (APR [...]

Mortgage rates continue their trend upward and they don’t look like they’re coming back down soon. This market is still very volatile and as I always, I encourage you to lock and not float your interest rates if you a closing within the next 4-6 weeks. If you’re hunkering for more [...]