“Oh, Hell No!” Mortgage Rates Hit 6.66% Just in Time For Halloween

Posted by Cary W Porter on October 10th, 2022

I personally would say “Hell No” to this rate. Up or down a fraction of a percentage please before I locked this one in!

The rate on a 30-year fixed mortgage averaged 6.66% this week, down from 6.70% one week ago, mortgage finance giant Freddie Mac reported on Thursday. Last year at this time, the typical rate was 2.99%.

The interest rate on the most popular home loan in America has fallen for the first time in seven weeks, ending a streak that pushed borrowing costs to their highest point since 2007.

Yet even with the decline, the average 30-year fixed mortgage rate is still more than double what it was last year.

Text “BOO” to (425) 223-4655 for a Free Value Analysis

Unfortunately for borrowers, this week’s dip was just a small…

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Housing Market Showing Signs of Correction

Posted by Cary W Porter on June 14th, 2022

The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist.

Cracks are beginning to appear in the red-hot housing market. The pandemic's housing boom is finally running on fumes. Home sales are falling. Inventory levels are rising. And home sellers are cutting list prices at the fastest clip since 2019.

Spiraling mortgage rates on top of record-high and still-rising home prices are leading many experts to predict the real estate market is on the verge of a correction—if it isn’t already in one. They anticipate home prices will flatten, or even go down a bit, in certain markets.

This Shift is a lot bigger than a seasonal cooldown. The economic shock of higher mortgage…

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Housing Market Entering Uncharted Waters

Posted by Cary W Porter on March 29th, 2022

Average mortgage rates are higher for all loan types today with the 30-year mortgage rate crossing above 5%.

• The latest rate on a 30-year fixed-rate mortgage is 5.17%. ⇑
• The latest rate on a 15-year fixed-rate mortgage is 4.197%. ⇑
• The latest rate on a 5/1 ARM is 3.974%. ⇑
• The latest rate on a 7/1 ARM is 4.135%. ⇑
• The latest rate on a 10/1 ARM is 4.245%. 

Fed Chair Jerome Powell is done sitting idly on the sidelines as inflation burns away Americans’ purchasing power. The plan? Draw upon the central bank's decades-old inflation playbook by increasing rates until demand pulls back, and price growth slows.

This is already presenting a test for runaway inflation's poster child: the U.S. housing market.

CoreLogic, a real…

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Need to improve your credit score?

Posted by Amelia Kendrick on February 2nd, 2020

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5 Reasons to Sell With Me This Fall

Posted by Mike Eckhart on September 16th, 2019

          file:///C:/Users/e_mic/Desktop/Selling%20this%20fall.pdf

Keep a lot more money at closing when you list with Mike Eckhart at The Cascade Team!

List for 1% the lowest in the state. 

 

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6 Smart Ways to Build Home Equity

Posted by Hailey Miller on August 22nd, 2018

  

Posted by Hailey Miller on Wednesday, August 22nd, 2018 at 9:05am.

Want to create wealth through homeownership? Build equity. 

Home equity is the percentage of your home’s value that you own, and it’s key to building wealth through homeownership. Let’s take a closer look at how to build home equity without blowing your budget — and how to access it when you need it.

How much equity do you have?

Equity is easy to calculate when you first buy a home because it’s basically your down payment. For example, if you put $11,250 down on a $225,000 home, your down payment is 5 percent and so is your equity.

From 2016 to the first quarter of 2018, most first-time home buyers in the U.S. started with about 7-percent equity, according to…

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ESCROW SCAMS GREW BY $950M IN 2017

Posted by Diego Vitelli on February 7th, 2018

Scammers are hacking into agent email accounts to track transactions and closings

 

BY MARIAN MCPHERSON Staff Writer - Inman

Although technology has made real estate transactions quicker, more seamless and increasingly transparent, it has also made buyers and sellers vulnerable to hackers and scammers looking to make a quick buck.

In many cases, scams involve criminals posing as real estate agents asking naive buyers for an upfront fee for services in exchange for a quick turnaround time. Other tactics include sending fake emails from associations as a way to gain access to an agent’s personal information.

According to the Miami Herald, real estate agents and their clients have yet another form of…

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November at a glance

Posted by Hailey Miller on November 2nd, 2015

   
          Hello,  I hope you are having a great Fall and didn’t get to drenched trick or treating with your kids, I know we were soaked in less than an hour. This is an exciting time of year; leaves are falling, it’s snowing in the mountains and we had a crazy amount of rain over the weekend:)!
Below are some great articles on whats going on in the Real Estate world, a quick read on how Hip-Hop, fiction and games can teach kids financial literacy and a fun little blurb on tiny homes that move with you wherever you go.
Have a great month and please let me know if you have any Real Estate needs that I can help you with. The Cascade Team lists homes for 1%, and still offers full service, this saves you a lot of money in the…

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New FHA Underwriting Guidelines Coming September 14

Posted by The Cascade Team Real Estate on August 10th, 2015

 

Several new underwriting guidelines for FHA Loans will go into effect on September 14, 2015, with the release of the updated FHA Handbook. Be sure your mortgage lender is preparing for these changes.  Here are a few of the most significant revisions being made.

	Current FHA Guideline	New FHA Guideline
Gift funds	Only a canceled check is required as documentation.	The donor’s bank statement showing the withdrawal of funds will be required, and any large cash deposits in the donor’s account will need to be explained.
Family members	Definition of family member limited to spouse, children, parents/grandparents, siblings, aunts, and uncles.	New definition of who qualifies as a…

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Wonderful Clock Hour Class with Roger Savy from Absolute Mortgage!

Posted by The Cascade Team Real Estate on December 3rd, 2014

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Communicating with Your Gated Community - A Boost in Production

Roger Savy, from Absolute Mortgage, lead a 90 minute clock hour course for all of our agents. The class covered: discovering the mindset of successful dialogues, how to segment your community into meaningful categories, how to schedule tasks into your planner, communicating in the impact zone, and tracking success. Thank you Roger for the great class!

 

Our Local Real Estate Team

Cascade Team Real Estate agents are proactive in serving their customers, studying the market and touring homes, so they can provide the most accurate housing market data for their you their client. This helps you better understand the competitive environment, pricing…

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