Remember the bridge over the river or should I say the bridge loan that used to be around once upon a time. Well its back by popular demand but only at Washington Federal. Yes the Cross Collateral Bridge Loan for borrowers with significant equity in their current home? That’s right, we are their still [...] Read more
Tag Archives: seattle mortgages
April 1st Changes to Mortgage Compensation – How Will It Affect You?
I try to post important information about the mortgage industry on our site as it affects the majority of home-buyers and home-owners. In August of 2010 the Federal Reserve Board issued final rules on loan originator compensation to go into effect on April 1, 2011. The Federal Reserve rules tie in with Dodd-Frank Wall Street [...] Read more
The Effect of Rising Interest Rates on Your Purchasing Power as a Buyer
Mortgage rates have risen steadily since November of 2010 and after five straight days of deterioration the best execution for 30 Year Fixed Conventional loans is now hovering around 4.875%-5.125% , depending on the credit rating of the borrower and fees on the loan. Rates are expected to continue to rise as the market for Mortgage Backed Securities transitions from the 4.5 coupon to the 5.0 coupon. New loan [...] Read more
The Loan Approval Process
Step 7 in the Escrow Process for Buyers is The Loan Approval. Your loan originator, whether a mortgage broker or someone who works for the bank you're working with, will put together a complete file to submit to the underwriter. It's a deadline intensive process for the lender and for you, so be ready to dig through your papers and get them what they ask for. 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 [...] 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 [...] Read more
