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Friday’s Rain City Rates
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based on owner occupied with a mid-low credit score of 740 or higher, “full doc” purchase with a sales price of $500,000 and a loan amount of $400,000 single family dwelling (non condo). This scenario includes reserves... »
Friday’s Rates
The video was recorded this morning…we didn’t see as many rate sheets as we did yesterday. Rates over all have been fairly steady…in fact, Aubrey Cohen of the Seattle P-I wonders if mortgage rates found a floor at 4.5%. Happy Memorial Day. Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below... »
Friday’s Rates
Mortgage rates remain fairly steady this past week with the Government continuing to artifically keep rates low by purchasing $27 billion in mortgage backed securities (MBS) from May 7 to May 13 focusing mainly on 4-5.5% coupons and not purchasing any of the 3 or 3.5% coupons that would cause rates to reduce beyond... »
Friday’s Rates
I’ve added two programs to “Friday’s Rates”: FHA’s 203(k) Rehab loan and USDA’s program. The 203(k) loan allows financing of certain repairs into the purchase price of the new home. USDA provides 100% financing in specific areas with income limits with no monthly mortgage insurance (there is an upfront funding fee, similar to VA... »
Friday Rate Update
Here’s a question for you… for conventional rates, which credit score bracket should I use for pricing: 740 and higher or 720-739? With exception to the FHA/VA rates, I’m currently using 720-739. If our readers would prefer 740 and higher, I’m happy to adjust my Friday Rate updates…just comment here and let me know... »
Mortgage Rates for Friday Afternoon
Mortgage rates are up about 0.125% from what I posted this morning and up a bit more than that compared to last Friday’s post as you’ll see by the red arrows. You’ll notice conventional rates increasing soon (next week) for condos and other types of transactions such as cash-out refinances, when Fannie and Freddie’s new... »
Mortgage Rates for Friday Afternoon
This morning’s Jobs Report was even worse than expected with 533,000 payroll jobs eliminated in November along with downside revisions to September and October’s report. Mortgage rates are much improved over the last rate post (pre-Thanksgiving) and slightly higer than yesterday when 30 year fixed rates dipped around 5%. This market is proof of why... »
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