Rain City Guide

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 [...]

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: [...]

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 [...]

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, [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]

When you lock in a mortgage interest rate, it is for a specific period of time, such as 30, 45 or 60 days. Your mortgage professional should make sure it is for an adequate amount of time to close the transaction. If it’s a purchase, the lock may be for a few days [...]