WOW!...Seattle Mortgage Rates Plummet..30 year fixed is 3.75% Today!...WOW!

WOW!...Seattle Mortgage Rates Plummet..30 year fixed is 3.75% Today!...WOW!

As the banks open and the wholesale rate sheet are coming into my inbox, I am just So excited! 
30 year fixed is now back under 4%! 
One lender is at 3.75% par pricing! 
They are still coming in...you know..'banker's hours' :), but I like how the days is starting.

Benefit to Current Seattle Home Owners
This is a great chance for current homeowners to lower their rate with a refinance. 
A lot of people think they can't qualify for a refinance because of the value drops have left many homeowners owing more on their house than it's worth. 
But if you have a VA or FHA loan, you could be in luck. 
The FHA Streamline Refinance and the VA IRRL Loans do not require an appraisal! 
By the way, IRRL stands for Interest Rate Reduction Loan. 
Another nice thing is, by law, we cannot add closing costs on this loan, so you don't have to do that Break Even On Closing Costs Calculation in your head. 
$0 fees and a lower rate, it really is just that simple :)

Benefit to Seattle Home Buyers
 This makes nicer, higher priced homes affordable to you, or makes the one you were already looking at that much lower of a payment. It is much easier for me as a lender to contribute more towards you closing costs, but still keep your rate and payment low.

Benefit to Seattle Home Sellers
It increases the pool of buyers that can qualify for your home. Lower payments at the same loan amounts do this. If you are trying to do a short sale, the less of a price drop you are requesting, the greater the chance of it getting approved.

In conclusion...
I would talk about it more, maybe post a cool video or a cute picture of my dog, but I got to DO LOANS! Call me if you have any questions at 206-497-8605

p.s.-we have gotten a mid-day reprice for the better with some lenders already...at 9 am! :)