ARCHIVED BLOG POSTS
2010
All day, every day, conforming and FHA mortgage rates in Washington State are in flux. Rates move in response to hundreds of factors which exact varying levels of influence. Among the biggest influences on mortgage rates is inflation. When inflation is unexpectedly high, mortgage rates tend to...
06/30/2010
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Support foreclosure prevention Preventing a foreclosure from happening at all is the best way to whittle down portfolio volumes and avoid the inevitability of even higher post-foreclosure loan losses. This is why the short-sale market is so hot right now. Even though field servicers aren't direct...
06/29/2010
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By Jerry Wright, Mortgage Advisor Mortgage Advisory Group Credit remediation is a subject consumers often face with fear and trepidation, and for good reason. With the exception of recognizing that the best score wins, the average home shopper knows very little about the whole credit scoring p...
06/28/2010
markets improved last week on weaker-than-expected jobless figures, ongoing troubles in Europe, and a tame reading on domestic inflation. As a result, conforming mortgage rates for Washington State fell last week, drawing loads of new refinance applications. For a brief moment Thursday afternoo...
06/21/2010
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Since lenders are checking credit reports for any new inquiry's on the day of closing, we now have the 10 commandments of lending. •1. Thou shalt not change jobs, become self-employed or quit your job. •2. Thou shalt not buy a car, truck or van (or you may be living in it). •3. ...
06/18/2010
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The Senate has approved a plan to give homebuyers an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring. The move by Senate Majority Leader Harry Reid would give buyers until Sept. 30 to complete their purchases and qualify for tax credits of u...
06/17/2010
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With the cutoff to qualify for a federal tax credit fast approaching, Congress wants to delay the deadline for consumers scrambling to close transactions. Congress is considering an extension for would-be homebuyers who are racing to close home sales in order to receive a federal tax credit. The...
06/17/2010
If you plan to finance your Olympia home with a conforming interest only mortgage, get your loan application submitted no later than this Friday, June 18. Starting next week, Fannie Mae is clamping down on the popular loan product. An "interest only" mortgage is exactly what its name implies - a...
06/16/2010
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When people decide to buy a home, the monthly payment is a crucial factor. Affordability is a function of home price, interest rate and down payment. Conservative underwriting for mortgage payments state that borrowers should allocate no more than approximately 30% of their income for a house pay...
06/15/2010
In an effort to fill in some of the gaps exposed in the initial Making Home Affordable (MHA) program, Washington has stepped up its efforts to assist more distressed homeowners. In a press release on April 28th, the U.S. Treasury announced an update to the program designed to assist nearly 50% of...
06/14/2010
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Jerry Wright
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