A quite week on wall street with the holidays here. What will retail sales do to show how consumer confidence will be in the first quarter of 2009. How are interest rates holding and where will they go from here?
Washington Homeowners, Is Your Mortgage Causing Financial Stress?
Starting immediately, Fannie Mae — the mortgage giant with an estimated 18 million home loans in its portfolio or in mortgage bond pools it guarantees — will allow borrowers who face imminent financial difficulties to request “early workout” loan alterations, even if they’ve never been late.
Seattle Mortgage Rates Today, December 19, 2008
FED chairman, Ben Bernanke, announces Tuesday the Federal Reserve will begin to invest heavily in Mortgage Back Securities. How did this affect mortgage rates? We are now seeing interest rates of 2003 in the last refinance boom. With interest rates primed to continue to hit historical lows the government is hoping to stabilize the real estate market and de-thaw the financial institutions. This creates more opportunities, but are you ready?
Federal Rate Cut
The most recent Federal Reserve meeting brought new hope to housing and mortgage when Federal Chairman Ben Bernanke announced the Federal Reserve will heavily invest in Mortgage Back Securities. This brought interest down to new lows in 2008 to 4.625%. However this was short lived as rates rose within 24 hours back to 4.875%.
Freddie Mac Announced 4 1/2 Year Lows On Mortgage Rates
Freddie Mac announced mortgage rates are at 4 1/2 year lows. Seattle home values are still overvalued 14.2%. Secure a low rate and refinance now before your equity disappears in the coming months.
Seattle Mortgage Rates Today, December 12, 2008
The Big 3 Auto makers have no bail out plan, how did this affect the market? What is more troubling to the market is the up coming Fed meeting on Tuesday. If they cut potentially by another .50% what will that do to interest rates. Historically in the past the mortgage rates have always increased due to the worries of inflation. However with the current state of our economy in a recession and deflationary concerns will historical patterns continue. Unfortunately we have no patterns to base the future markets. Stay tuned as we will post what happens to the mortgage market on Tuesday.
4.5% Interest Rates! For Purchases? For Refinances? For Jumbo Loans?
The Treasury released an announcement to reduce mortgage rates to 4.5%. That put a smile on everyones face, homeowners and potential buyers. Right now the rumor is for new home purchases only because buyers have the power to spark the current housing market. A tax credit was given for 2008 but stay tuned for the rate, tax credit, first time home buyer bonus, or all for 2009.
Buying A Home In Seattle? Increase Your Purchase & Savings Power Today!
The Seattle Real Estate market has aggressively priced homes and interest rates have recently dropped. Now is the time to buy a new home! Take advantage of a great long term home loan and a great low price.
Do You Have A 2nd Mortgage?
Banks are restructuring 2nd mortgages (Home Equity Line of Credit – HELOC) for current home owners in Washington. A decrease in home values in certain cities has the banks decreasing the available credit on HELOCS. Depending on your goal for the HELOC, take action before the bank does.
Seattle Mortgage Rates Today, December 5, 2008
Lowest interest rates of the year are back again. How low will it go? What is this buzz about rates hitting 4.50%? When is it the right time to refinance? Another wild ride on Wall Street!