interest rates: The USDA Rural loan is making a come-back! - 04/23/10 03:38 PM
Just when we were waiting any day for the announcement that the USDA Rural program was out of funds... the Legistlature goes to work to get them back in there!
We still need an official vote but the Financial Services Committee approved it unanimously.
If you are not familiar with the USDA Rural loan, it is a zero-down loan program with no mortgage insurance primary for first time, low-to-moderate-income home buyers buying homes in rural/outlying areas. It's a great program for those who qualify and the income caps have been raised recently to make it available to more home buyers (which … (2 comments)

interest rates: How long -- REALLY -- will interest rates stay low?!?!? - 09/18/09 04:18 PM
How long -- REALLY -- will interest rates stay low?!?!? This is a question I'm asked almost daily.
It's probably safe to say everyone agrees one of the primary reasons why mortgage rates have stayed so low for so long is the commitment the Fed has to buying Mortgage Backed Securities from Fannie Mae and Freddie Mac. This artificial, temporary demand has kept prices for MBS higher (which means rates are lower) than if we hadn't had the MBS purchase volume coming from the Fed.
By the by -- "the Fed" in this instance refers to the Federal Reserve Bank of New York, which … (6 comments)

interest rates: Mortgage Rate Update -- THE FLOOR IS CLIMBING! THE FLOOR IS CLIMBING! - 05/21/09 05:41 PM
Mortgage Rates have gotten a little squirrelly of late, and are up about .25% from my last posting, here (yes, you must read my previous post -- it's the ol' bait-and-switch).
Many Economists (whoever that guy is, he sure is mysterious) say that rates are likely going to climb to 6% by the end of the year.
THIS COULD BE IT PEOPLE!
Ok, that may be slightly dramatic, but rates always go up faster than they go down, so if you're getting close to buying or refinancing...
"Hello, this is James Wirth with your red carpet room service. It's now time … (4 comments)

interest rates: Mortgage Rate Update -- 'she canno' hold on much longah' cap'n! - 04/17/09 06:32 PM
Yes yes, another trek reference. Not that anyone's counting *sigh*
The week started lower, held at the hump and lost momentum in the last couple of days. Here's where we wound up:
4.875% Rate / 5.026% APRLoan amount: $417,000Down payment/equity: 20%Loan program: 30 Year FixedMinimum credit score: 720
Everything points to this being the bottom for rates -- well, except that ONE Bank of America announcement that said they expected 4.125% rates. Hey BofA, here's an idea -- take that TARP money and MAKE NEW LOANS!
Ok, I apologize. My usual diplomacy is nowhere to be found.
Thanks for reading!
 
… (2 comments)

 
James Wirth

James Wirth

Everett, WA

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Address: Everett, WA, 98208

Cell Phone: (425) 298-7883

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James Wirth here, and T-H-A-N-K--Y-O-U for visiting my blog! Here I hope to inspire, educate, and coach those affiliated with the Real Estate industry on how they can better market themselves online & connect with past, present and future clients/customers/contacts


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