Jan 21 2018

The Mortgage Porter –, mortgage preapproval.#Mortgage #preapproval

The Mortgage Porter

Every Thursday morning, Freddie Mac publishes the Prime Mortgage Market Survey, a weekly report based on conventional rates from the previous week. It s an average and it s also old news as a borrower cannot lock in last week s rates they can only lock in what s available now . Last week s survey shows that rates are remaining at historically low levels.

Mortgage preapproval

With that said, I don t anticipate that rates will remain at these low levels forever. It will be interesting to see how having a new Fed Chair, assuming President Trump retires Janet Yellen as he s indicating, will impact the direction of mortgage interest rates.

What we do know is rates are low now and that many home owners are appreciating increased equity so if you ve been considering refinancing, you may want to get the ball rolling.

I m happy to help you with your purchase or refi of homes located anywhere in Washington state, where I m licensed. Click here for a no-hassle mortgage rate quote.

Beware of Bogus Badness in your Email

There has been rampant wire fraud taking place in the real estate industry. This morning, I received an email appearing to contain a purchase and sales agreement for a new transaction with a link to download the contract.

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Mortgage rates at 2017 lows!

Freddie Mac s weekly survey of mortgage rates reveals that last week interest rates remained at 2017 lows.

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Attributed to Sean Becketti, chief economist, Freddie Mac.

Following a sharp decline last week, the 10-year Treasury yield rose 11 basis points this week. The 30-year mortgage rate, however, remained unchanged at 3.78 percent. If Treasury yields continue to rise, mortgage rates could see an increase in next week s survey.

Remember, this is last week s information. You cannot lock in a mortgage rate from last week unless you are a time traveler. If you would like current mortgage rates based on your personal scenario for your home located anywhere in Washington state, please contact me!

Can you get a Mortgage with Frozen Credit?

Mortgage preapprovalIn light of Equifax s recent massive credit breach, many people are going through the process of freezing their credit with each of the credit bureaus. This prevents someone from obtaining a new credit account in your name (it does not prevent them from using existing credit). I actually decided to freeze my credit a while back when it appeared that someone was trying to commit fraud with our address. It s not that difficult to do and it s pretty easy to forget about until you decide to apply for new credit, such as getting a mortgage. [Read more ]

Were you potentially hacked from the massive Equifax breach?

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Equifax announced yesterday that they ve were hacked on a scale unlike any we ve seen potentially impacting half of our population.

From Equifax: a cybersecurity incident potentially impacting approximately 143 million U.S. consumers. Criminals exploited a U.S. website application vulnerability to gain access to certain files. Based on the company’s investigation, the unauthorized access occurred from mid-May through July 2017. [Read more ]

Mortgage Rates hit 2017 lows!

Freddie Mac released their weekly Prime Mortgage Market Survey today announcing that mortgage rates hit 2017 lows. Mortgage preapproval

The PMMS is based on average rates for conforming mortgages from last week. The rates do not include closing cost and are priced with 0.5 point.

Attributed to Sean Becketti, chief economist, Freddie Mac.

The 10-year Treasury yield fell 6 basis points this week amid concerns over lagging inflation. The 30-year mortgage rate also declined for the fourth consecutive week, dropping 3 basis points to a new year-to-date low of 3.86 percent.

If you re considering refinancing, you may be in luck! If you would like me to provide you with a current mortgage rate quote for your personal scenario for your property located anywhere in Washington state, please click here.

New Updated Guide Book for First Time Home Buyers

Hot off the press (or keyboard?)! The eBook that I wrote for first time home-buyers has been completely updated. Please feel free to share this with anyone you know who is considering buying a home anywhere in Washington state. You can access the eBook below or by clicking this link: Your First Home Mortgage Guide Book by Rhonda Porter

Of course, if you re considering buying your first, second home, vacation or rental homes in Washington state, I am happy to help you! Click here for a no hassle rate quote or here to start the preapproval process.

My Seattle Kitchen Remodel: Selecting Countertops

A few weeks ago, I shared that we re remodeling our kitchen. Boy-oh-boy what a chore it is we started the process months ago and are just starting to see light at the end of the tunnel. As I m going through this first hand, I thought I d share tidbits of things we re learning along the way. Today, I ll share the story of our kitchen counters.

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Let s start by discussing what we had on our old kitchen (photo above). [Read more ]

About the Author

Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and joined Mortgage Master Service Corporation as a Loan Officer in 2000 and began blogging in 2006. Read More…

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