Mortgage News

New HARP loan “HARP 2” + new FHA loan limits 2011

Christmas might be coming early for homeowners in Oregon and Washington!  The Obama administration has been putting pressure on banks to come up with ways to extend opportunities to refinance into lower rates in recent months, and it appears that we’re getting some movement on this finally.  The original HARP loan (aka: Home Affordable Refinance …

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Mortgage Rates for Portland OR: Sept 18th 2013 FED DAY!

HOLEY MOLEY! Anyone reading this is likely aware about the FED’s Taper talk, and why it matters to mortgage rates.   I was cautiously optimistic that we would get a break out of our recent bond trading range after the release of today’s Meeting minutes.  However, I had locked most of my clients prior to …

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Maximum FHA loan amounts for Portland Oregon (and the rest of Oregon)

Everything keeps on changing in the mortgage-verse (that’s a thing right?- like mortgage + universe = mortgageverse?).  One major change that will effect our market is the recent/pending REDUCTION of the maximum allowed FHA mortgage loan amount.  These loan amounts are subject to change every year, but we’ve been lulled into the idea the $417k …

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Low Rates and the Return of Private Mortgage Insurance (PMI)

Its happening again.  Rates are tumbling and tumbling more.  I read recently that avoiding closing costs in a declining rate environment is a wise approach and I completely agree.  By avoiding closing costs two things happen: 1. The net benefit of the improved cash flow is immediately realized, and 2. You are in a position …

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