The Cascade Team Blog - Mortgage Information

Mortgage Rates Fall to Four-Month Lows

Follow & Review Us On:  

Fixed mortgage rates dropped to their lowest levels since this summer, giving a lift this week to the housing recovery. 

"Mortgage rates slid this week as the partial government shutdown led to market speculation that the Federal Reserve will not alter its bond purchases this year,” says Frank Nothaft, Freddie Mac’s chief economist. 

Mortgage rates have been dropping since September when the Federal Reserve decided to delay tapering its $85-billion per month bond purchasing program, which has been keeping rates low. 

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 24: 

• …

2226 Views, 0 Comments

Mortgage Rates Roll Back to July Levels

Follow & Review Us On:  

Mortgage rates continue to fall, following the Federal Reserve’s decision to delay tapering its bond purchase program. The Federal Reserve announced last week that…

3245 Views, 0 Comments

Western Washington home sale frenzy is easing in some neighborhoods

Follow & Review Us On:  

Demand for Puget Sound area homes "still incredibly strong,"

but brokers report frenzy is easing in some neighborhoods

KIRKLAND, Wash. (Sept. 5, 2013) – Northwest Multiple Listing Service figures for August show brisk sales, escalating prices and some improvement in inventory, prompting one MLS director to declare, "What these numbers tell us loud and clear is that buyer demand in the Puget Sound region is still incredibly strong."

In making that comment, OB Jacobi, president of Windermere Real Estate, noted the housing market tends to experience some slowing during August, but rising inventory levels and sustained buyer demand fueled "higher than expected home sales and another month of strong appreciation."

…

1965 Views, 0 Comments

A First-Ever Flip in Mortgage Affordability

Follow & Review Us On:  

For the first time ever, interest rates for jumbo mortgages have dropped below the average rates for conforming mortgages, lenders say.

The average interest rate for a 30-year fixed-rate conforming mortgage last week was 4.73 percent while the average for a jumbo 30-year fixed-rate mortgage was 4.71 percent, according to the Mortgage Bankers Association. 

"In my 30-year career, I've never seen nonconforming loans priced…

2785 Views, 0 Comments

Mortgage Rates Surge to 2-Year High

Follow & Review Us On:  

Average fixed-rate mortgages edged higher this week to the highest average in two years as speculation mounts that the Fed will soon taper its bond purchase program. 

The Fed’s bond-buying program had been keeping mortgage rates at or near all-time lows in recent months. But as the economy improves, the Fed has indicated that it will soon taper its program, which will likely send rates higher. 

The Federal Reserve released its monetary policy committee minutes for July this week, which indicated broad support among members to start…

3103 Views, 0 Comments

Mortgage Rates Seesaw Since Fed’s Taper Talk

Follow & Review Us On:  

Fixed-rate mortgages held mostly steady this week, with the 30-year fixed-rate mortgage staying below its recent high of 4.51 percent set in mid-July, Freddie Mac reports in its weekly mortgage market survey. 

Mortgage rates have been on their way up since early May — spiking more than a full percentage point increase — after the Federal Reserve announced that it would be ending its bond-buying program soon. The Fed’s program has helped to keep  mortgage rates near record lows the past year. 

Freddie Mac reports the following national averages on mortgage rates for the week ending Aug. 8: 

• 30-year fixed-rate mortgages: averaged 4.40 percent, with…

1541 Views, 0 Comments

10 mortgage facts you may be wrong about

Follow & Review Us On:  

Misconception No. 1: Your interest rate reflects the true cost of your mortgage.

Your annual percentage rate (APR) is actually the figure that represents the true cost of your mortgage. It is inclusive of your interest rate, points, mortgage insurance (when applicable) and other fees, including origination and underwriting fees. It does not include the cost of your homeowners insurance policy. The APR is typically higher than your interest rate because it incorporates the rate and the fees. In fact, when shopping for a mortgage, it is best to compare loans based on APR instead of the interest rate because it gives a better sense of the total cost over the life of the loan.

Misconception No. 2: Mortgage rates are only…

3309 Views, 0 Comments

How Fast Can You Buy a Home?

Follow & Review Us On: 

By Gerri Detweiler | Credit.com

Tips to Buy a Home Fast

• Check your credit reports and your credit score before you start shopping for a home to give yourself time to fix any mistakes you find. You can check your credit reports for free once a year from each of the three major credit reporting agencies from AnnualCreditReport.com.  You can also check your credit score using Credit.com's free Credit Report Card.
• Get preapproved — not just prequalified — for a mortgage. Doing so may even put you at an advantage over a cash buyer who may be offering less money.
• Work with real estateand mortgage professionals who have a track record of meeting deadlines. Don't be afraid to ask for references. 
• Protect yourself. No…

3375 Views, 0 Comments

Mortgage Rates Nudge Slightly Lower This Week

Follow & Review Us On: 

Following several weeks of increases, mortgage rates decreased, giving some relief to home buyers.

The Fed’s monthly bond purchase program has been keeping mortgage rates low for the past year, but there has been concern recently that the program will be ending soon, which has prompted mortgage rates to move up the last few weeks. 

This week, "fixed mortgage rates fell as Federal Reserve Chairman Bernanke helped ease market concerns about the Fed reducing its bond purchases,” says Frank Nothaft, vice president and chief economist, Freddie Mac.

Freddie Mac reported the following national averages with mortgage rates for the week ending July 18: 

• …

1803 Views, 0 Comments

Special Financing Incentives Available on Home Purchases with The Cascade Team Real Estate!

Get Prequalified With Axia Home Loans & Save Thousands In Closing Costs!

The Cascade Team Real Estate has a trategic partnership with Axia Home Loans which can save you thousands on your next home purchase.  As a valued client of  mine, you'll recieve no loan origination fees (usually up to 1% of the loan value) and $1190 in closing cost credits.  This can translate into thousands of dollars of savings on your next home purchase.  Be sure to submit your information and get pre-qualified for your next real estate or home purchase with the Cascade Team and Axia Home Loans program.

It's a great time for new home buying!

If you have questions about the local real estate market, mortgage rates, and market trends? View our Housing Trends Report

If you…

1792 Views, 0 Comments