Currrent mortgage loan rates

Here is a quick summary of mortgage rate activity for the past week, courtesy of Troy Chambers, loan officer for Arboretum Mortgage.


Rates went back down a touch this week, and remain extremely low! Now is still a very good time to either look at a refinance, or a new home purchase. Besides the long turn times and the patience needed, loans are moving along very smoothly! I can help, so please feel free to contact my cell phone at any time at 425-418-5103. I will be available all through the weekend as well. If you would like to apply for a pre-approval feel free online. The address is http://www.troychambersmortgage.com/
 
Troy Chambers

Arboretum Mortgage
Phone: 206-720-6628
Fax: 206-860-9340
troy@arboretummortgage.com
http://www.troychambersmortgage.com/

Table of rates.

Home Buying and Selling Tips for Fall

REALTOR® Magazine-Daily News-Home Buying and Selling Tips for Fall

HGTV’s real estate site Front Door says the weeks between now and the end-of-the year holidays are the best ones to find a bargain. Here are some of their tips for fall buyers and sellers:

Fall Sellers:
· Replace faded summer plants with fall-blooming flowers and add autumn decorations to the home.
· Expect low-ball offers and be prepared with higher counter offers.
· Freshen up listing photos by shooting pictures that make it less obvious that the seasons have changed.
· Price the home to sell. A price that is a little lower than the competition may be a winning move.
· Be willing to show the property and hold open houses whenever potential buyers are ready.

Fall Buyers:
· Look for motivated sellers who have a reason to move on by the end of the year.
· Explore new constructions. Builders are often particularly interested in selling before the new tax year.
· Beware of fall maintenance issues. Consider overflowing gutters and leaf-covered lawns warning signs.
· Shape offers carefully. Even in this market it is possible to turn sellers off with a too-low bid.

Source: FrontDoor.com (09/16/2010)

10 Reasons to Buy a Home

REALTOR® Magazine-Daily News-10 Reasons to Buy a Home

10 Reasons to Buy a Home
Time magazine is being overly pessimistic in its recent cover piece that called into question the benefits of homeownership. In fact, now is a great time to buy. And, what's more, tomorrow will be a great time to own, because the fundamental strength of homeownership hasn't changed.

Why is now a great time to buy? Here are 10 reasons:

1. You can get a good deal. Prices are down 30 percent on average. They're at a level that makes sense for people's income.
2. Mortgages are cheap. At 4.3 percent on average for a 30-year fixed-rate mortgage, your costs to own are down by a fifth from two years ago.
3. You can save on taxes. When you add up the deductions for mortgage interest and others, the cost of owning can drop below renting for a comparable place.
4. It'll be yours. The one benefit to owning that never changes is that you can paint your walls orange if you want (generally speaking; there might be some community restrictions). How many landlords will let you do that?
5. You can get a better home. In some markets, it's simply the case that the nicest places are for-sale homes and condos.
6. It offers some inflation protection. Historically, appreciation over time outpaces inflation.
7. It's risk capital. If the economy picks up, you stand to benefit from that, even if you're goal is just to have a nice place to live.
8. It's forced savings. A part of your payment each month goes to equity.
9. There is a lot to choose from. There are some 4 million homes available today, about a year's supply. Now's the time to find something you like and get it.
10. Sooner or later the market will clear. The U.S. is expected to grow by another 100 million people in 40 years. They have to live somewhere. Demand will eventually outpace supply.

Source: Wall Street Journal, Brett Arends (9/16/10)

Another Sunday, another Open House

Today, from 1-4, I am holding Open a gorgeous, 1930 brick tudor which has been impeccably remodeled and updated from top to bottom. Four bedrooms, two and a half baths, approximately 2,500 sq. ft. on a beautifully landscaped 4,000 sq. ft. lot in West Seattle's Belvidere neighborhood. Separate dining room, french doors, natural gas, air conditioning, attached garage, convenient freeway access, and so much more. Come see for yourself. The address is 4019 Fauntleroy Way SW. MLS# 124009.

As usual, I will be giving coupons for free ice cream from West Seattle's own Husky Deli.

You can find information about this, and many other Opens, here: List of Open House Events.