Jan 08
FHA Mortgage Insurance Premium (MIP) to drop President Obama will be formally announcing that he will direct the Federal Housing Administration to reduce annual mortgage insurance premiums by 50 basis points, from 1.35% to 0.85%. Zillow’s Allison Paoli ran the numbers on what this could mean for first-time buyers, saying: “On a $175,000 home loan with less than 5% …
Dec 19
Yes, you can buy your new home with as little as a 3% down payment! There is a common misconception that many buyers have regarding the down payment necessary to purchase a home. Multiple studies reveal that 40-50% of Americans believe you need between 15-20% of a down payment to be eligible to purchase a home. …
Dec 11
‘What’s Up? Nothin’ But the Rent.’ No news to Seattle renters, but Seattle is officially one of the most expensive cities to rent a home… tenth in the country behind San Franciso. Seattlites need to make the equivalent of $44/hour to afford a median rent. San Francisicans need to earn a minimum of $79/hour. Renting …
Aug 30
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 …
Aug 21
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 …
Aug 14
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 …
Apr 07
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 …
Apr 02
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 …
Mar 04
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 …
Jan 14
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 …
"Keller
Williams Ranks Highest in Customer Satisfaction for Home Buyers and Sellers Nationwide."
J.D. Powers & Associates 2012
Home Buyer/Seller Satisfaction Study
