September 23, 2017

Seattle Real Estate Mortgage Rates Today 5/6/11

Seattle / Bellevue Real Estate Mortgage Rate Watch: Rates are on a 15-day consecutive rally pressuring rates lower! This is great timing as we kick off the peak real estate market. Though some will disagree, the cycle of homes sold in the Seattle & Eastside markets run in their peak from March to the end of September. Currently we are receiving feedback from our Real Estate Partners on the Real Estate Reel that families are very active as they strategically position their moves for their children’s future educational needs.  In fact, in many areas where schools are testing well homes are receiving MULTIPLE OFFERS.  Just this week alone we have three clients that were all beat from higher offers.  HOLD ON!  Media is saying that the market is lagging, dead, slow, sluggish.  Well, I do not think these families see it the same as interest rates have dipped to the lowest levels of 2011 almost matching rates seen prior to November 3, 2010 before the announcement of Quantitative Easing 2.  Regardless, don’t be fooled; yes, there are pockets where homes are declining and on the market without any offers.  BUT there are pockets that are having the exact opposite outcome.  LOCATION and MOTIVATION are the key ingredients for resales right now.  FAMILIES moving for education–by far– is topping the chart.

Professionals in the market place know better than the media.  Would you not agree?  For example, two different markets, West Seattle and Bellevue.  Kristen Meyer & Rosemary Pham of West Seattle Keller Williams, updated us that they are seeing multiple offers on homes.  West Seattle is highly desirable to many families and individuals where the sense of community is highly prized.  In Bellevue, Anna Novikoff of Windermere Real Estate, was shocked by the number of families showing up for open houses.  What?  Open houses with people showing up that are not the neighbors! Yes, it is true, again there is a need and motivation for many families to move for education.  Budget cutbacks have plagued the education system and those who are ready are making a strategic move now.  Did you know the YELLOW BUS will soon be a thing of the past?  Don’t believe it?  Ask any parent with a child in school; it has shifted to the community you live in and the school in that community will be where you child attends. For many parents this is the MOTIVATION which is clearly showing up in parts of Bellevue.

There is always a need for housing and a fulfillment of home ownership.  The national market is to big to generalize.  Here in our market there are homes being listed and sold which do not reflect what national indicators like the Case-Schillers Index states.

YES, we are pro-homeownership.  Part of our frustration is that a home has been comoditized.  A home is not a stock, a home is not a bank, it is where a foundation of family, fun and sense of pride in ownership  lives and thrives.

Timing is everything just as location of the home is critical. Timing in securing an interest rate, BEST rate, is working with a mortgage professional who has their pulse on the market and when best to advise and educate their clients when timing is right. Along with this key knowledge is to be on top of all of the lending and underwriting changes which seem to almost happen daily. We at the Mortgage Reel are Licensed Washington Loan Originators, serving clients with transparency, knowledge and most importantly keeping your goals in mind. How can we assist you today?




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(206) 219-3088


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