Aug 30

Why don’t more home buyers take advantage of lower borrowing costs?

Demand for Mortgages is Down Fixed-rate mortgages sank to the lowest average of the year last week, yet mortgage origination activity remains lackluster. In a recent blog post, Freddie Mac analysts point to three main factors behind the decrease in mortgage originations: The refinancing boom has ended. From 2013 to 2014, mortgage applications for refinancings have fallen …

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Aug 21

Where are mortgage rates headed?

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year. According to a recent article in Kiplinger, 30 …

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Aug 14

House Punting: The Cost of Waiting to Buy

What would a higher interest rate actually mean for your purchase of a new home? To put a price tag on the potential cost of waiting to buy a home Zillow assumed that the rate on a 30-year fixed-rate mortgage would rise 1 percentage point, and then calculated how that higher rate — which would be about …

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Apr 07

Where are house prices headed?

As a Seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a Buyer, you must not be concerned so much about price but instead about the ‘long term cost’ of the home – which is directly linked to mortgage interest rates.​ Interest Rates by …

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Apr 02

Buying your house… what NOT to do!

Whew! You did it! Got your offer accepted for the house you just fell in love with! Smooth sailing ahead, eh? Well, almost… The next hurdle will be getting your loan papers signed. And, that’s when you must remember what NOT to do! One of the most important things for Buyers to remember is the …

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Mar 04

Moving-Up? Do it NOW not later… it will cost you more tomorrow

Predicted that 75% of buyers this year will be ‘move up’ buyers A recent study revealed that the number of existing home owners planning to buy a home this year is about to increase dramatically. Some are moving up, some are downsizing and others are making a lateral move. Another study shows that over 75% of these buyers will, in …

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Jan 14

Economic News for the week of January 13th

Check out the latest economic news from Stephen Chow, Mortgage Broker, Sterling Bank on his Inside Lending Newsletter. Words from Stephen: INFO THAT HITS US WHERE WE LIVE… Fannie Mae’s December National Housing Survey asked consumers to look into tomorrow and it was somewhat exciting to see that people are becoming more confident in the housing recovery. Evidence of this …

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Jan 07

Latest Economic News January 6, 2014

Check out the latest economic news from Stephen Chow, Mortgage Broker, Sterling Bank on his Inside Lending Newsletter. Words from Stephen: INFO THAT HITS US WHERE WE LIVE… The creator of Peter Pan could well be describing last week’s rash of kindly housing news, which just a short time ago would have seemed like a …

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Jun 14

Buying a new home… Is now the time?

  We in the real estate community are often criticized for always seeming to have a Pollyanna attitude about the housing market. Some people believe that the industry’s current call ‘to buy now’ is nothing more than a scare tactic with the sole purpose of creating more commissions for Realtors. So, let’s take a look at …

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Jun 09

King County’s May median single-family home = $417,500, up 15.3%

The MLS reported the median sale price of a single-family home in King County was $417,500, up 15.3% from the same month a year ago and up 4.3% from April. It was the second month in a row that the median price of a home topped $400,000 and the 14th straight month of year-over-year price …

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