CoRE #106 - We have A WINNER! September 2, 2008
We at Rain City Guide have had the pleasure and honor to host this week’s Carnival of Real Estate. I can’t help but remember someone saying that Greg Swann is disappointed when there is not one, single and clear WINNER of the CoRE. Well Greg, we do not disappoint you this week.
Diane Tuman’s post on [...]
Mortgage Rates Improved August 1, 2008
The Jobs Report this morning wasn’t pretty. We didn’t lose as many jobs in July at 51,000 instead of the expected loss of 75,000 (how is that for sugar coating?). Our unemployment was reported higher at 5.7%. Consider this, many loan originators who are 1099 (vs. W2) and do not qualify for unemployment may not be factored into [...]
The Fate of Fannie and Freddie July 11, 2008
Fannie Mae and Freddie Mac opened trading at record lows due to rumors about a possible bail out. I’m writing this waiting to hear an announcement from Treasury Secretary Paulsen….
If you are in a transaction at this time and your mortgage fits within the FHA loan limits ($567,500 for King, Pierce and Snohomish County), I [...]
Mortgage Rates on the First Day of Summer June 20, 2008
While I’m still trying to figure out how to please everyone with pricing rates used in the Friday rate posts (with or without any points), since we have not had major rate changes today and because it’s the first day of summer…I’m going to give you a little treat and price rates both ways today: [...]
How Much Home You Can Buy with $17,550 Down June 18, 2008
My purpose for this post is to hit it home what a great window of opportunity we have with FHA Jumbo mortgages which are only around until December 31, 2008 unless Congress passes an extension of some sort (which is a possibility-but not guaranteed).
For the remainder of this year, you can use $17,550 to buy a [...]
Our New Responsible Mortgage Lending law June 17, 2008
Just when you thought you had seen the most stupid law from our legislature regarding real estate omitting common sense, here comes another! House Bill 2770 aims to make what was a federal offense a state class-B felony. While it is aimed at mortgage brokers, it has wide sweeping implications to real estate agents, buyers, [...]
Friday’s Rates–Conforming Jumbo Rates are GREAT! May 23, 2008
Rates are pretty close to the same as last week…however I don’t expect this to last considering all of the inflationary data we have. Inflation will have a negative impact on mortgage back securities (bonds) which will drive interest rates higher. A 30 year fixed rate term refinance that I closed today at zero points/zero discount now [...]
Friday’s Rates May 16, 2008
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 [...]
Financing an Investment Property May 12, 2008
Obtaining a mortgage for a non-owner occupied propery is much different than buying one you will reside in. For starters, qualifying is tougher and mortgage interest rates are higher as it’s a riskier transaction for the lender. Here are some quick tips to help get you started if you’re considering buying an investment property.
Plan on using [...]
Friday Rates May 9, 2008
Good news: conforming-jumbo rates have come down significantly! In fact, the 30 year fixed rate for mortgages priced between $417,001 - $567,500 (for King, Pierce and Snohomish Counties) are the lowest since I’ve started publishing rates at RCG.
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based [...]
