Mortgage Loan Rates Remain Low

Daily Real Estate News | March 26, 2010 | Share

30-Year Rates Just Shy of 5 Percent
Freddie Mac reports slightly higher mortgage rates this week, with the average interest on a 30-year fixed loan topping off at 4.99 percent from the previous week's 4.96 percent and from 4.85 percent a year ago.

Here’s a look at how other rates fared:
• 15-year fixed loans bumped up to 4.34 percent from 4.33 percent a week earlier but remained down from 4.58 percent a year ago.
• Five-year adjustable-rate mortgages averaged 4.14 percent, climbing from 4.09 percent a week earlier but declining from 4.98 percent a year earlier.
• One-year ARMs were 4.20 percent versus 4.12 percent and 4.85 percent, respectively.

Source: Wall Street Journal, Nathan Becker (03/26/10)

© Copyright 2010 Information Inc.

34 Days to Tax Credit deadline

Only 34 days left to take advantage of one of two tax credits offered to qualified homebuyers. The first credit, $8,000, is available to first-time homebuyers. The second, $6,500, is available to current homeowners purchasing a new home. Give me a call at 206-708-9800 and I can give you more details. But DON'T DELAY, because time is getting short!

Open House at Fauntleroy Cove today

Today from 2-5, I will be holding Open 8801 Fauntleroy Way SW, very near the Fauntleroy ferry dock. In addition to the amazing view, this home has a legal ADU (aka Mother-in-Law apartment) with 2 bedrooms on the lower level and another 2 bedrooms upstairs. The owner has also provided architect's plans for converting the house back into a single family home in case you don't want your mother-in-law living with you (because she is really going to want to, once she sees it).

There is off-street parking for two cars in addition to the garage -- a rare occurance for homes in this area -- so you won't have to worry about finding a parking space.

As I often do, I will be giving away coupons for a free ice cream cone at West Seattle's own Husky Deli, so don't miss out.

Free "Open House" list

Here's an easy way to get a list of all the houses being held open this weekend. Use the search tool link below to find all Opens or just those that fit your criterion.

It includes listings by various real estate companies/agents, assuming the event has been posted in the NWMLS (Northwest Multiple Listing Service).

I hold an Open House nearly every Saturday and Sunday. This weekend I'll be at 8801 Fauntleroy Way. Come visit me between 1-4 on Saturday and 2-5 on Sunday.

Open House Search engine.

Seattle is one of ten best cities for borrowers

Some cities are better than others for borrowers.

The best cities have the lowest percentage of foreclosures and delinquencies, including a low percentage of bank-owned homes. In most of the cities on this best list, home prices are actually rising.

This kind of solid housing market motivates banks to offer lower rates and better terms.

Here are the 10 cities that Forbes ranks as the best for borrowers:
1. Kansas City, Mo.
2. Houston
3. Dallas
4. Virginia Beach, Va.
5. San Antonio, Texas
6. Boston
7. Pittsburgh
8. Denver
9. Seattle
10. Portland, Ore.

Source: Forbes, Francesca Levy (03/22/2010)

Fauntleroy View Home--Open House today

Today from 2-5, I will be holding Open 8801 Fauntleroy Way SW, very near the Fauntleroy ferry dock. In addition to the amazing view, this home has a legal ADU (aka Mother-in-Law apartment) with 2 bedrooms on the lower level and another 2 bedrooms upstairs. The owner has also provided architect's plans for converting the house back into a single family home in case you don't want your mother-in-law living with you (because she is really going to want to, once she sees it).

There is off-street parking for two cars in addition to the garage -- a rare occurance for homes in this area -- so you won't have to worry about finding a parking space.

As I often do, I will be giving away coupons for a free ice cream cone at West Seattle's own Husky Deli, so don't miss out.