News & Updates
Lots of Confusion About Recent Mortgage Rate Movement. Let’s Clear it up
It's been frustrating and potentially confusing to see mortgage rates move consistently higher after the Fed's September 18th rate cut, but the Fed has nothing to do with the big rate spike of the past few weeks. The Fed's rate cut wasn't even the reason that rates...
Huge Mortgage Rate Bounce After Stunningly Strong Jobs Report
There was a lot riding on Friday's big jobs report with a weak result likely to reinvigorate a move to long-term lows and a strong result likely to push rates higher. It ended up being VERY strong, thus pushing rates higher VERY quickly. The following chart shows...
Refi Booms, Loan Limits, and Mortgage Rate Misdirection
'Tis the season for things to be something other than what they appear to be, apparently. Lenders are talking about new loan limits, but they haven't officially changed. News stories are saying rates went lower this week, but they're higher. And there's even talk...
Why The Fed Rate Cut Didn’t Help Mortgage Rates This Week
This week's newsletter will be intentionally short in hopes of it being easier to share, read, and digest. It will offer several strategies for understanding the paradoxical disconnect between the Fed Funds Rate and mortgage rates. For those interested in a deeper...
Financing for ADUs in Portland
ADUs, mother-in-law units, granny flats - no matter what you call them - are a hot commodity in Portland. They come in all shapes and forms: basement renovations, garage conversions and free standing units. But they aren't just to house your in-laws when they come...
Conforming Loan Limit Increase Coming in 2018
The conforming loan limit is increasing to $453,100 in 2018, up from $424,100. This applies to all "Conventional" mortgages - loans that conform to Fannie Mae or Freddie Mac guidelines. Any loan amount over this mark is considered a Jumbo loan and is subject to a...
Rate Drop + High Values = Time to Refinance
2016 has, so far, been unfriendly to stocks and is likely not finished heading into a bear market. With falling oil prices, China's economic turmoil, and other global pressures, investors are flocking to the safety of mortgage bonds. This translates directly to...
Down Payment Assistance – Buyers Only Need .5% Down
Buying a home just got easier! A new Down Payment Assistance Program (DAP) for FHA loans means that borrowers only need .5% down. The DAP is a second mortgage, up to 3% of the sales price that can be used to meet the minimum down payment requirement and/or for...
USDA Annual Fee Increase
The annual fee for USDA loans will increase from 0.4% to 0.5% of the unpaid loan balance beginning October 1, 2014. There is no change to the upfront fee of 2% which may be financed. USDA, or Section 502 loans are intended to help families purchase or refinance...
What Impact will the Government Shutdown have on Mortgages?
Wondering what impact the government shutdown will have on the loan process? Here are the things you need to know. IRS tax transcripts. These must be ordered from the IRS for ALL LOANS. They typically take a day or two. Expect delays. Social Security Number...
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