REALTOR® Magazine-Daily News-Mortgage Rate Falls Under 4.5 %

REALTOR® Magazine-Daily News-Mortgage Rate Falls Under 4.5 %
Freddie Mac reports that long-term mortgage rates moved south again this week. 

Interest on 30-year fixed loans hit a new low of 4.49 percent, compared to 4.54 percent last week and 5.22 percent a year ago; and the 15-year mortgage landed at 3.95 percent, down from 4 percent last week and 4.63 percent a year ago. 

Five-year adjustable-rate mortgages reached a new low of 3.63 percent, down from 3.76 percent last week and 4.73 percent a year ago; while one-year ARMs fell to 3.55 percent from 3.64 percent last week and 4.78 percent a year ago. 

REALTOR® Magazine-Daily News-Five Surprising Reasons to Buy a Home Now

REALTOR® Magazine-Daily News-Five Surprising Reasons to Buy a Home Now
ForSaleByOwner.com offers five good reasons why now is a great time to buy a house:

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they can absorb a few ups and downs as the still-recovering housing market gains traction.
2. Houses are in move-in condition. Home owners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. As these houses enter the market, they are in marked contrast to tattered foreclosures.
3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system, and they are being replaced by some very attractive properties.
4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the current market.
5. Plenty of programs. Many programs that encourage middle-class families to buy homes continue to exist, despite market downturns. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.

Affordable Duplex on Alki

Think you could never afford a home just blocks from Alki Beach? That dream might be within reach after all. Today and tommorow I am holding open a legal duplex just off 63rd Av SW (which turns into Beach Drive) at 6304 SW Marguerite Court. If you were to purchase this property with the intent to live in one half and rent out the other half, your mortgage could be much more affordable than you might think because the rental income can offset your monthly payments. Today's low, low interest rates and downpayments for first-time buyers in particular, could make this a very oportune time for you to buy.

If this sounds like something you'd like to consider, call your favorite lender to find out if you qualify for a loan and approximately how much your payments would be.

If you don't have a favorite lender, here are several I recommend highly:
Mark Denniston, Northwest Mortgage Alliance, 206-932-1500
Lori Richmond, Normandy Mortgage, 206-226-5410
David Todd, Northwest Mortgage Alliance, 206-938-6818
Troy Chambers, Arboretum Mortgage, 425-418-5103

Meanwhile, come by my open house and see this terrific place for yourself. List price is $449,950. I will be here until 4PM today and again tomorrow from 1-4. Ask for your coupon for a free ice cream coupon from Husky Deli!

MLS# 83086

Current mortgage loan rates

Here is the scoop on current mortgage loan interest rates, courtesy of Troy Chambers, loan officer for Arboretum Mortgage.

Rates remain very very low. It is still a very good time to either look at a refinance, or a new home purchase. Either way, 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. Also, if you would like to direct potential clients to my website, it is very easy for them to be preapproved at 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.

REALTOR® Magazine-Daily News-10 Best Cities for Working Women With Kids

REALTOR® Magazine-Daily News-10 Best Cities for Working Women With Kids