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By ANDREW MIGA | Associated Press

WASHINGTON (AP) — A sharply divided Congress isn't likely to jump at President Barack Obama's challenge for quick passage of a mortgage refinancing bill that supporters say could help millions of homeowners save big each year and boost the economy.

Obama praised the legislation in his State of the Union speech last week, saying the proposal would help more homeowners with mortgages backed by Fannie Mae and Freddie Mac take advantage of low interest rates and refinance their loans.

Even with mortgage rates near a 50-year low, Obama said, too many families that have never missed a payment and want to refinance are being turned down.

"That's…

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Daily Real Estate News | Monday, February 11, 2013  

Credit scores from online mortgage shoppers have risen four points since 2011, averaging 734, according to a study by MortgageMarvel.com, which analyzed nearly half a million online mortgage applicants. 

Some states are averaging even higher credit scores, particularly among those states known for having high household earnings. The following are the states with the highest median credit…

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Daily Real Estate News | Friday, February 08, 2013

Average mortgage rates stayed steady or inched lower this week, which “should continue to aid in the ongoing housing recovery,” Freddie Mac says in its weekly mortgage market survey. 

The following are the national averages in mortgage rates for the week ending Feb. 7, according to Freddie Mac:

  • 30-year fixed-rate mortgages: averaged 3.53 percent, with an average 0.8 point, holding the same as last week. A year ago at this time, 30-year rates averaged 3.87 percent. 
  • 15-year fixed-rate mortgages: averaged 2.77 percent, with an average 0.7 point,…

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Daily Real Estate News | Friday, February 01, 2013  

Mortgage rates continued to “trend upwards this week amid a growing economy led in part by the recovering housing market,” says Frank Nothaft, Freddie Mac’s chief economist. 

The 30-year fixed-rate mortgage, the most popular choice among home buyers, rose above a 3.5 percent average for the first time since Sept. 13, 2012. 

Freddie Mac reports the following national averages for mortgage rates for the week ending Jan. 31.

  • 30-year fixed-rate mortgages: averaged 3.53 percent, with an average 0.7 point, rising from last week’s 3.42 percent average. A year…

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Daily Real Estate News | Friday, January 25, 2013  

Mortgage rates were on their way up this week, with the 30-year fixed-rate mortgage moving to its highest reading since Sept. 29, 2012, Freddie Mac reports in its weekly mortgage market survey. 

Still, fixed-rate mortgages remain near all-time record lows and “should continue to aid in the ongoing housing recovery,” according to Frank Nothaft, Freddie Mac’s chief economist.

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

  • 30-year fixed-rate mortgages: averaged 3.42 percent, with an average 0.7 point, rising from last…

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Below you will find useful information;  If you are either in a Short Sale or contemplating one, here is an idea of what will happen to your buying capability.  Here is the answers for Conventional, FHA, VA, USDA.

How Do We Handle A Short Sale Transaction

The Cascade Team connects our clients with our in-house short sale department to work with you throughout the process. Because we are not attorney's or credit counselors, we have negotiated to provide our clients a FREE attorney consultation  to provide information on the impacts of a short sale, credit implications, concerns regarding deficiencies, etc.  There is NO COST to you for this service.  In addition, our short sale team will work with you to ensure all the information required by the…

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Now Is The Time!

Interest rates remain at all-time lows as the

Federal Reserve continues to use their balance

sheet to buy mortgages and keep rates low.

Interest rates are likely to rise when the economy

has enough momentum to sustain growth

without the help of the Fed.

 

No one knows

for sure when that will happen but now

is a great time to take advantage

of these interest rates.

Start your search for your new "Dream Home" HERE

Have you found the house of your dreams yet? If you've found a property you love, you now need to decide how much you're willing to offer. You want to be conservative enough that you get a good deal, but you don't want to bid so low that you risk losing the house. The following are some questions…

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Daily Real Estate News | Friday, January 18, 2013  

Mortgage rates mostly remain unchanged this week from last week, staying low and keeping home buyer affordability high, Freddie Mac reports in its mortgage market survey. 

"Mortgage rates were flat to down a little this week amid reports that inflation remains contained,” says Frank Nothaft, Freddie Mac’s chief economist. 

Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 17: 

  • 30-year fixed-rate mortgages: averaged 3.38 percent, with an average 0.7 point, dropping from last week’s 3.40 average. A year ago at this time,…

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Daily Real Estate News | Friday, January 18, 2013  

The Consumer Financial Protection Bureau released new guidelines for mortgage servicers on Thursday that set out to help protect home owners who may be facing foreclosure. 

CFPB Director Richard Cordraysays the new rules are aimed at trying to prevent “unnecessary foreclosures” as well as “ensure fair treatment for all borrowers and establish strong protections for those struggling to save their homes.” 

Among the CFPB’s new guidelines: 

  • Mortgage servicers are prohibited from foreclosing on a home owner who is seeking loan modifications. Servicers will be unable to file a…

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Daily Real Estate News | Thursday, January 17, 2013  

2013 could be the best year for real estate in western Washington in years. Here are some of his predictions for the new year:

  1. More buyers and sellers return to the housing market. 
  2. Home sales increase 12-17 percent while home prices increase 3-9 percent. 
  3. Inventory of for-sale homes will hit bottom. 
  4. Higher-priced listings begin to sell more. 
  5. The number of distressed properties continues to drop. 
  6. Multiple offers on properties will become more common in highly desirable areas. 
  7. Short sales rise, reaching a peak. They begin to become less of a bargain as banks watch…

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