Seattle Real Estate Professional
Realtor
Accredited Buyers Representative
Licensed Loan Originator
Contact Information
- On the web:
- Email:
- michael.pollock@exprealty.com
- Telephone:
- (206) 399-1345
My Posts/Listings
4% For a 30 Year Fixed Mortgage!?!
Yes, that’s not a typo or missing some additional .5 or .75. As mortgage backed securitities continue to gain steam due to overall weakness in the economy the rates for Conventional and Government loans have reached new lows. For the first time in my time as a Loan Originator I had a client close on a 30 Year Fixed at 4% last Friday! All borrowers regardless of credit scores should... [Read more]
Mortgage Interest Rates At Ridiculously Low Levels
It’s been awhile since I posted but I’ve been able to get a couple free minutes and had to point out what’s happening in the mortgage industry these days. Over the past week Treasury Notes and Mortgage Backed Securities keep gaining in appeal as investors move out of the stock market into the safety they offer. Today we saw a huge drop in both the Dow Jones and S&P 500 indexes... [Read more]
Seattle Mortgage Rates & News For The Beginning of April – Rates Rising!
I mentioned throughout February and March that the end on March 31st of the Federal Reserve’s program to purchase mortgage backed securities would impact mortgage rates in a negative way. What was interesting to witness was the rise in rates starting several days before the end of the program. Positive economic reports and other financial data during the last week of March pushed mortgage... [Read more]
Seattle Mortgage Rates & News For The Week of March 22nd
As we get closer and closer to the end of the Federal Reserve’s Mortgage Backed Security Purchase Program on March 31st the going sentiment has been that mortgage rates will go up. Unfortunately there has been activity in the market this week which has already put rates on the rise. It started on Tuesday with Existing Home Sales figures which beat market expectations, despite a drop from... [Read more]
Foreclosure Filings Drop Nationally
Today RealtyTrac® released its February U.S. Foreclosure Market Report. The RealtyTrac report shows that foreclosure filings, which include default notices, scheduled auctions, and bank repossessions declined 2 percent from January. A total of 308,524 properties in the United States received one of the listed notices during the month. This equates to 1 house in every 418. Compare that to January’s... [Read more]
Seattle Mortgage Rates For The Week of March 8th
It’s been a fairly bland week in terms of mortgage rate activity, although that’s a good thing when rates are hovering between 4.75 and 5%. After two dataless days to start the week and little or no movement in mortgage rates, action picked up on Wednesday. Mortgage rates opened the day lower and after a big turnout at the 10 year Treasury note auction, yields increased and mortgage-backed... [Read more]
Seattle Mortgage Rates For The Week of March 1st
Wow, March 1st is already here and the countdown has begun to the Federal Reserve’s exit from mortgage backed securities purchasing at the end of this month. We ended last week with some pretty good rates and things have continued to be positive for mortgage rates this week as well. The data this week has been of light impact although we’ve seen rates improve steadily throughout... [Read more]
The Effect Of Higher Mortgage Rates On Purchase Price
Mortgage rates have risen over the beginning of 2010 and are expected to climb significantly after the Federal Reserve stops purchasing mortgage backed securities in March. Additionally any improvement to the overall economy will push rates higher as money moves out of mortgage bonds and into stocks. A couple years ago when the economy was at full steam 30 Year Fixed loan rates were in the upper 5... [Read more]
Seattle Mortgage Rates For The Week of February 22nd
Last week saw mortgage rates reach some of the highest levels we’ve seen so far this year. With the homebuyer’s tax credit still around for the next couple months it’s on most buyers mind whether they’ll be able to get a rate in the upper 4′s or mid 5′s for their purchase. The real estate market is showing some signs of recovery with housing starts exceeding... [Read more]
Seattle Mortgage Rate News For the Week of February 15th
It’s been my goal to keep everyone reading our blog updated each week with what’s happening in the mortgage industry. This post is a bit later in the week than I’d like, but it will allow me to summarize what’s taken place over the last several days. Mortgage rates have risen as the week has gone by with “par” rates now hovering between 4.875% and 5% for 30... [Read more]
