Rain City Guide

Today was a “four rate sheet day” from most of the lenders that I work with (as of 4:30 PST).   Although I have fewer banks/lenders to work with, I’m grateful to have options.  Here’s an example of how much rates changed today with one of the banks I work with:
7:30 AM:  my first rate sheet from [...]

Today stocks are rallying based on the events that were announced this morning: Treasury Secretary Hank Paulson’s plan to temporarily guarantee money market funds; the Fed’s announcement to create a place for bad mortgage debt; the SEC’s ban on short selling specific financially related stocks.   Good news to the stock market typically translates to higher [...]

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 [...]

It’s been tough on mortgage backed securities this week.  Today there are no economic indicators being released and compared to last week’s rates, they’re up across the board.   The Tim, from Seattle Bubble, made a special request that I show the weekly difference between posts…which I used to do with RCG Rates…which such a dramatic increase [...]

I’m not anticipating any rate changes today (but anything could happen in the mortgage world these days) as the markets are closed in observance of Good Friday. Pricing of mortgage rates is definitely going through a limbo phase with the addition of “jumbo-conforming” and “jumbo-FHA”. ARMs are simply not attractive [...]

We are in “limbo” while we wait for Fannie/Freddie and the lenders to figure out what the pricing will be for the temporary conforming loan limits.
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 minimum credit scores of [...]

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 [...]

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 [...]

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 1 point and [...]