Rain City Guide

Today the FOMC reduced the Fed Funds rate by a half point to 3%.   A half point rate cut was expected by Traders and so far we do not have significant changes (yet) to mortgage interest rates.  However, if you have a HELOC, your interest rate has just gone down again.   The Fed also reduced [...]

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 have been very volatile these past few days.   Yesterday morning, I posted that the 30 year conforming fixed was under 5% and by the end of yesterday, mortgage rates had increased by 0.375% to rate or around 1% in fee. 
Rate shoppers lost out big time if they did not lock.
Rates are continuing to rise [...]

I wish I could save this post for Valentines Day!   Earlier this month, fresh from Inman NY, Brian announced that he is going to start posting tidbits of rate info on Twitter.   If you subscribe to Brian’s Twitter, Mortgage Report, you’ll be notified if he feels you should be locking or floating…this is similiar to what [...]

We took our boys snowboarding last night at Snowqualmie where I began to receive text message alerts on my Treo about various markets being slammed from around the world based on fears of a US recession.   The Fed met last night deciding to make an intermeeting cut to the Funds Rate to 3.5%.  This is the biggest single Fed [...]

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 [...]

The much weaker than expected Jobs Report and unemployment figures at a two year high find mortgage rates benefiting from investors seeking the safety of bonds.  This “bad news” could be a great opportunity for those who are considering refinancing or buying a home.   Mortgage rates have improved from 0.25% - 0.375% to rate while stocks [...]

Today escaped me between dealing with clients and then trying to take some time off to run our boys around exchanging Christmas gifts before the New Year.  I post rates here and at Mortgage Porter every Friday.  I tend to post them at MP first and then stall a couple hours in case of price changs [...]

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 [...]

Earlier this week I told you about how Fannie and Freddie are increasing the cost of mortgages for anyone with credit scores under 680 using less than 30% down. This impacts A LOT of people. Since I posted that article, I have received many memos from some lenders saying that they are implementing [...]