2024-04-22 18:07
Want to know what’s up with mortgage rates? Check out my latest video! Read More
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The Mortgage Porter – Blog
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A blog about mortgage planning, home equity management, debt restructuring and the Seattle area.
2024-04-19 22:53
Wow!
Thursday, our classroom was packed with real estate agents wanting to learn the latest on the new zoning laws impacting neighborhoods in Washington. Richard Hagar did an amazing job co… Read More
2024-04-15 18:15
Curious about mortgage rates? Check out my latest video on where rates are and what direction they may be heading! Read More
2024-04-15 16:34
If you’re a real estate agent, you don’t want to miss out on this upcoming class on Washington state’s new zoning laws. This all day class takes place at the Kent office of… Read More
2024-04-08 19:53
Where are mortgage rates? Check out my latest update for this week! Read More
2024-04-01 20:12
It’s Jobs Week! Check out what’s impacting mortgage rates this week in my latest video Read More
2024-03-25 23:44
Want to know where mortgage rates are and what may impact the direction of mortgage rates this week? You’re in the right place! Check out my latest video for the details! Read More
2024-03-21 16:08
Fannie Mae released their monthly forecast for mortgage rates. The previous month, they received a lot of attention because of how rosy it was with rates forecasted to hit 5.9% by the end of… Read More
2024-03-20 15:00
Today the FOMC wraps up their two-day meeting and around 11:00 am PST, we will learn if the Fed is going to make any adjustments to the Fed Funds rate. It is widely expected they will not ad… Read More
2024-03-19 16:04
Last Friday, NAR (the National Association of Realtors) announced a settlement which included a major change to real estate commissions. This settlement still needs court approval to be fina… Read More
2024-03-18 20:16
We have the FOMC meeting wrapping up this Wednesday. While we don’t anticipate any changes to the Fed Funds rate, what Chairman Powell has to say following the meeting may imp… Read More
2024-03-11 20:09
Curious about what’s impacting mortgage rates? Check out my latest video! Read More
2024-03-05 18:45
This is “Jobs Week” with the big daddy being the BLS Jobs Report this Friday.
Stay tuned! Read More
2024-03-02 18:13
It’s fun to visit open houses on the weekends. You may be picturing yourself living in the home, enjoying the backyard or perhaps making a few home improvements to really make it &ldqu&hell…Read More
2024-02-29 23:51
There are many options available for financing home improvements not to mention using cash or available funds.
What type of program is used may depend on the scope and amount of funds needed… Read More
2024-02-26 20:59
Curious about what may impact mortgage rates this week? Check out my latest video! Read More
2024-02-23 22:10
Here are some questions you should ask lenders before deciding who you are going to work with on your mortgage. The largest financial transaction of your life is far to important to place i… Read More
2024-02-20 19:50
2024-02-12 21:38
Check out my latest video to see what may impact the direction of mortgage interest rates this week.
If you’re considering buying a home, remodeling or refinancing, please contact me! Read More
2024-02-07 00:29
Do you know the difference between being prequalified or preapproved for a mortgage? This short video reviews the importance of being preapproved.
If you are currently preapproved with a len… Read More
2024-02-05 20:11
Mortgage rates have been “bouncing” around a bit. Check out more on my quick video below.
If you’re considering a mortgage, please reach out to me – I’m happy t… Read More
![It’s FED Day! [Live Post] Fed Funds Rate Is UNCHANGED](https://cdn.blogarama.com/images/posts_thumbs_site_id/718/71811-3081312038.w320.jpg "It’s FED Day! [Live Post] Fed Funds Rate Is UNCHANGED")
2024-01-31 15:34
At 11:00 am PST today, the FOMC will wrap up their two-day meeting and we will learn if they have decided to make any adjustments to the Fed Funds rates. It is not anticipated that they will… Read More
2024-01-30 18:40
Spoiler alert! I (along with many others) predict that mortgage rates will be below 6% by the end of this year and that we’re going to see a very competitive housing market du… Read More
2024-01-29 21:35
This week is packed with market moving events that may impact the direction of mortgage rates, including the FOMC meeting and the Jobs Report. Watch my latest video for more details and ple… Read More
2024-01-22 18:49
Mortgage rates have been pretty steady lately. Check out my latest video for the details.
If you’re considering buying or refinancing your home, please contact me for mortgage rates b… Read More
2024-01-22 15:07
Attention Real Estate Brokers, YOU are invited to our 2024 Real Estate Forecast and Strategies Lunch & Earn this FRIDAY, January 26, 2024.
This event is featuring Dan Habib from MBS High… Read More
2024-01-16 19:22
Where are mortgage rates? What may impact the direction of mortgage rates this week? Check out my latest video for more information!
If you are considering buying or refinancing a ho… Read More
2024-01-09 19:09
Market Watch recently published “I really don’t want to work until I’m 67, I’m 57, make $100,000 a year, and have $300K in my 401(k). But I’m worried about my s… Read More
2024-01-08 16:53
PS: Go HUSKIES!!! Read More
2024-01-02 20:18
It’s our first update for the new year! This week is packed with economic data scheduled to be released. Watch this week’s video for more info! Read More
2023-12-18 19:12
Next week, I will not be providing a Mortgage Update due to the holidays. I hope you and yours have a Merry Christmas and Happy Holidays! Read More
![All Eyes Are On The Fed [Live Post]](https://cdn.blogarama.com/images/posts_thumbs_site_id/718/71811-571008269.w320.jpg "All Eyes Are On The Fed [Live Post]")
2023-12-13 15:46
This morning we received some mortgage rate friendly news on the PPI (producer price index) showing that overall inflation was flat last month. This bit news is just hours before the Fed wra… Read More
2023-12-12 03:38
Here are some of the economic indicators that may impact mortgage rates this week! Read More
2023-11-29 01:02
HUD has just announced the 2024 loan limits for FHA mortgages. FHA loan limits vary by the county the home is located in. In Washington state, some counties have higher limits than 2023 and… Read More
2023-11-28 17:26
Conforming loan limits will be going up in 2024 across the country. Conforming high balance loan amounts for Washington state will remain unchanged from 2023.
Here are the 2024 conforming lo… Read More
2023-11-17 20:49
Bridge loans allow people who want to buy their next home to access a portion of their home equity to use as down payment and/or closing cost. They have been around for quite a while and has… Read More
2023-11-10 15:39
Zillow’s recent gloomy attention grabbing headline stating “If you buy now, it can take 13.5 years to make a profit on your home sale” has been creating quite a buzz with v… Read More
2023-10-31 16:09
If you’re a homeowner wanting to buy your next home, you might be feeling reluctance to trade your existing interest rate for a current mortgage rate. It’s easy to understand whe… Read More
2023-10-21 13:47
Late Thursday night, I returned home from a three week vacation in Italy visiting my son and daughter-in-law, who are currently living in Europe. This is the longest vacation away from my wo… Read More
![It’s Fed Day! [Live Post]](https://cdn.blogarama.com/images/posts_thumbs_site_id/718/71811-731140185.w320.jpg "It’s Fed Day! [Live Post]")
2023-09-20 13:52
Good morning! It’s just before 7:00 am PST as I’m writing this post. In a couple of hours, we’ll hear the announcement from the FOMC wrapping up their two day meeting on m… Read More
2023-08-23 23:34
You’ve probably figured out by now that I’m a pretty big fan of the All In One Loan. I encourage you check out the simulator so that you can see how differently this mortgage wo… Read More
2023-08-18 22:11
I am looking forward to our upcoming homebuyer class in Tacoma on Saturday, September 9th. Enjoy a complimentary lunch jampacked with information to help homebuyers learn what they need to… Read More
2023-08-10 22:50
I recently put together a new resource guide on the All in One Loan. The more I learn about this program, the more I appreciate this mortgage. I think it is probably the best mortgage avail… Read More
2023-08-05 20:01
Seattle area Real Estate Broker, Kim Mulligan, posted this on Facebook a couple of days ago regarding a recent listing:
“For those of you that were clamoring to be my neighbor, I have… Read More
2023-08-02 14:19
Please join me and DeAnna Franklin from Franklin Home Team for our home buyer “lunch and learn” in Tumwater. We will be covering all you need to know about buying a home in toda… Read More
2023-07-30 15:55
If you’re looking to buy your first home, you may have to expand your horizon to find a home that’s more affordable. When I bought my first home many years ago, I wound up with a… Read More
2023-07-15 18:54
We have added a new down payment assistance program where eligible home buyers can receive up to 100% financing. This program is not limited to first time home buyers and there are no income… Read More
2023-07-06 18:54
Many Americans took advantage of the extra low rates that were available during the pandemic years. Some may be feeling trapped at having a rate in the 3% range since we’ve returned to… Read More
2023-07-05 23:40
If you have student loans that have been on hold for the past three years, your payments are about to resume. Some have replaced the student loan payments they would of had the past few year… Read More
2023-06-29 18:59
If you’ve been considering buying a home or if you’re a real estate agent who is working with clients who are on the fence about buying; please check out my latest resource page:… Read More
2023-06-26 15:25
When Congress resolved the latest debt ceiling with the passing of The Financial Responsibility Act of 2023, both parties agreed to stop the forbearance on student loans payments. Federally… Read More
2023-06-20 15:17
If you’ve applied for a mortgage, you are probably painfully aware of what it’s like to be a “trigger lead”. When your credit is pulled, the consumer reporting agenci… Read More
2023-06-19 21:59
An “offset mortgage” also known as an “all-in-one loan” is basically a 30-year home equity line of credit that includes a sweep-checking account where the deposits go… Read More
![It’s Fed Day! Will They Pause Or ? [Live Post]](https://cdn.blogarama.com/images/posts_thumbs_site_id/718/71811-3729737421.w320.jpg "It’s Fed Day! Will They Pause Or ? [Live Post]")
2023-06-14 17:21
10:15 am: As I begin this post, we are about 45 minutes from knowing if the Fed is going to “pause” on hiking the fed funds rate, or if the hikes will continue.
Typically, mortga… Read More
2023-06-07 00:14
I have been writing about how high credit card interest rates have climbed with the Fed raising the funds rate. If you’re not paying off your entire credit card bill each month, you ar… Read More
2023-05-22 20:38
This weekend I stopped by the open house for this charming home offered at $799,500 in the Admiral District of West Seattle listed by Kim Mulligan of Engel & Volkers Seattle. This home&r&hell…Read More
2023-05-21 14:12
This past weekend, we stayed at a vacation rental with our neighbors in Port Townsend. Port Townsend is a charming seaside town located on the northeast corner of the Olympic Peninsula and i… Read More
2023-05-10 17:50
The Federal Housing Finance Agency (FHFA) announced earlier today that it is rescinding the debt-to-income (DTI) loan level price hit adjustment (LLPA) that was announced in January of this… Read More
2023-04-26 19:34
As a mortgage professional, I get to review detailed financials when someone is looking to buy or refinance a home via their loan application. Sometimes people are using every cent they can… Read More
2023-04-19 16:39
It’s official!
New American Funding now has an office in Kent. We are located in the exact office where Mortgage Master Service Corporation was located off of West Valley Highway, acro… Read More
2023-04-11 19:02
Are you considering buying or refinancing your home? You may be surprised at what you should and shouldn’t do. Some things that are common sense may actually not be the best actions if… Read More
2023-04-06 19:13
This morning Freddie Mac released their weekly Primary Mortgage Market Survey (PMMS) revealing that mortgage rates slightly improved last week.
It’s important to note that the rates fr… Read More
2023-04-04 18:43
Since mortgage rates have returned to a more historically “normal” level, many are surprised that mortgage rates a bit higher than they may have been over the past few years. Mor… Read More
2023-03-30 23:54
Did you know that you don’t need a 20% down payment to buy a home? In this video, I discuss what funds are needed during the home buying process.
If you’re interested in buying o… Read More
2023-03-21 20:56
This past month or so, I have been helping people deal with issues with their mortgage lenders. This isn’t entirely unusual, but it seems to be happening more often in this current mar… Read More
2023-02-24 18:45
The funding fee for VA mortgages for 2023 have been announced. Great news – the fees for 2023 have been reduced from 2022!
The VA Funding Fee is a one-time charge often added to the lo… Read More
2023-02-22 18:06
FINALLY!!! HUD just announced that the mortgage insurance on FHA mortgages will be reduced by 30 basis points on most mortgage loans.
FHA mortgages typically have two forms of mortgage insur… Read More
2023-02-21 23:53
I have just created a page on my blog dedicated to first time homebuyers. Right now, you can access this on the column to the right.
I will be updating this page with information that first… Read More
2023-02-18 00:07
Many Veterans who have served our country have earned the right to have a VA mortgage loan. It’s unfortunate that some sellers as well as real estate agents have a bad image of VA loan… Read More
2023-02-09 15:42
Hear me out on my latest video and let me know if I can help you with your mortgage needs Read More
2023-02-09 00:25
I have been with New American Funding for three months now and have had the pleasure of helping clients with their home purchase and refinancing mortgages. I have been very impressed with ho… Read More
2023-02-03 22:19
I had a great time meeting Tony Blodgett at New American Funding’s studio in the Everett office to record an episode of Market Shares. We talk about the transition from Mortga… Read More
2023-01-24 23:58
Last week, the FHFA (Federal Housing Finance Agency) announced changes to how conforming mortgages are priced with loan-level price adjustments (LLPAs). Some borrowers will find improved pri… Read More
2023-01-13 15:25
If you’re waiting for home prices to come down or interest rates to improve a bit more; I hope you’ll read an article recently penned by David Stevens: A Reminder: Home Prices Al… Read More
2023-01-12 23:09
If you are looking at adding to your real estate investment portfolio, I may have some good news for you! We have a new program that allows investors to qualify for a mortgage based on the p… Read More
2022-12-21 16:12
If you have been thinking about buying a home this spring, you’re not alone. Experts predict there is quite a bit of pent-up demand following the recent sellers’ market and highe… Read More
2022-12-19 14:55
If you tried buying a home over the last few years, you probably lost out to buyers who made cash offers. Sellers tend to prefer cash offers because they can close faster and there are less… Read More
2022-12-14 15:10
6:49 a.m. Well… it’s kind of a live post – I will be updating this post throughout the day. This morning, all eyes are on the FOMC (aka “the Fed”) as we wait t… Read More
2022-12-01 21:54
HUD has just announced the 2023 loan limits for FHA mortgages. FHA loan limits vary by the county the home is located in. In Washington state, every county except for San Juan County, has hi… Read More
2022-11-29 18:46
Conforming loan limits for 2023 are going up for homes located in Washington state.
1 Unit: $726,200
2 Unit: $929,850
3 Unit: $1,123,900
4 Unit: $1,396,800
The following counties have &ldquo&hell…Read More
2022-11-22 16:11
3-2-1 and 2-1 seller buydowns allow homebuyers to have below market interest rates. The seller is essentially prepaying a portion of the buyers mortgage payment to effectively “buy dow… Read More
2022-11-15 00:44
“Seller Buydown” seems to be a very trendy phrase these days since interest rates have moved higher. There are a couple different types of Seller Buydowns that help make homes mo… Read More
2022-11-11 20:53
After 23 years of helping people with their mortgage needs at Mortgage Master Service Corporation, I have made a move to New American Funding. You can still reach me at my same phone number… Read More
2022-11-10 17:39
Mortgage interest rates are having one of their best days in months following the CPI report released this morning showing better than expected data on inflation. Yes, inflation is still hig… Read More
2022-10-12 16:32
WARNING: Rant ahead!
When you meet with a mortgage professional and allow them to pull your credit so that you can be prequalified for a mortgage to buy or refinance a home, your information… Read More
2022-09-30 14:17
Freddie Mac’s Prime Mortgage Market Survey illustrates how mortgage interest rates have continued to push higher. The graph below is based on an average from last week so the rates are… Read More
2022-08-31 21:33
Fannie Mae recently released updated projections for interest rates next year. An average of 4.500% for a 30 year fixed would be an improvement from what home buyers and homeowners have expe… Read More
2022-07-27 20:57
Today, in a move that probably surprised nobody, the FOMC increased the Funds Rate by 0.75 percentage points to 2.500%.
In addition, the Fed reiterated their commitment to reduce their holdi… Read More
2022-07-15 22:52
I decided to take my own advice that I’ve been dishing out about credit cards and debts. Today I reviewed my credit card accounts to see what my current interest rates are. I’m p… Read More
2022-07-11 20:30
Yesterday I read an interesting article in the Seattle Times about how (and why) to pay off your credit card debt as soon as possible. The article warns of a slowing economy and future rate… Read More
2022-07-07 20:34
If you have been wanting to spruce up your kitchen, bathroom or any part of your home and you don’t want to touch your low interest rate on your existing mortgage, a second mortgage co… Read More
2022-06-22 16:36
I can’t take credit for the catchy phrase “Marry the house. Date the rate”. It’s being posted by mortgage professionals and real estate agents all over social media… Read More
2022-06-19 19:51
Yesterday I had the opportunity to participate at Arts in the Park at the Pioneer Park Pavilion in Puyallup. This was my first time demonstrating and being on the other side of the booth at… Read More
2022-06-14 17:27
Mortgage interest rates have been moving higher at a pace not seen in years. If you’ve been a subscriber to The Mortgage Porter, you may recall that I often say mortgage rates move up… Read More
2022-06-07 19:32
Cryptocurrency, like Bitcoin, CAN be used for funds for closing on a home as long as the cryptocurrency (i.e. virtual currency) meets certain criteria. Fannie Mae and Freddie Mac require tha… Read More
2022-05-26 20:44
Freddie Mac’s Prime Mortgage Market Survey released this morning shows that mortgage rates have been slightly improving.
It’s important to note that this data is from last week… Read More
2022-05-04 21:40
Today wrapped up the two-day FOMC meeting and Chairman Powell announced that the funds rate will be increased by a half point. As of today, the federal funds rate is 0.75-1% and is expected… Read More
2022-04-25 23:04
This has been one of the most challenging markets for homebuyers that I have seen in my 20+ years as a mortgage professional in the greater Seattle area. The lack of inventory has created a… Read More
2022-04-07 19:50
Every Thursday, Freddie Mac releases the Prime Mortgage Market Survey which shows average rates from last week (this data is not current for today since it’s an average of last week&rs&hell…Read More
2022-04-05 23:49
Today mortgage rates jumped about 0.25-0.375 in interest rate or about a full point (1% of the loan amount) in fee. Mortgage rates have been trending higher since the beginning of this year… Read More
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