Our mortgage reporter, Rhonda Porter, providing mortgage rate update:
With the Government stepping in to bail out Fannie and Freddie, mortgage rates have greatly improved this week. No one knows for certain how long these low rates will last-of course we hope they're here to stay. Many changes are coming into effect at the end of this month with FHA, including the termination of Down Payment Assistance Programs (Congress is pushing a new bill that my save DPAs such as Nehemiah) and increased down payment requirements for FHA.
Our resident "green" expert just posted this article on bottled water:
Bottled water to you may be a necessity or a luxury. You've probably read a lot about PET (polyethylene terephthalate) or BPA (Bisphenol A) possibly leeching into your liquids from the plastic which hopefully has given you some pause when purchasing bottled water. Bottled water is something that is particularly harmful to our environment. For starters, the Pacific Institute tells us that it takes three liters of water to produce one liter of bottled water! Thats a lot of water to package water!
Our mortgage reporter, Rhonda Porter, on FHA mortgages:
I've been providing more and more FHA loans over conforming lately. It's really not too surprising. FHA pricing has been very competitive with both rates and mortgage insurance-especially if your credit score is below 740 and if you don't have 20% for a down payment. FHA mortgages can go up to 97% loan to value (3% down) on purchases.
Guest blogger Sarah Scrafford, provides us with a quick overview on the difference between regular and reverse mortgages.
Reverse mortgages are not the exact opposite of regular mortgages, even though the term literally implies that it is. This kind of mortgage is available only to people above 62 who own their home. Besides this distinction, there are other factors that differentiate between a reverse mortgage and a regular one...
The "Bee Boppin' Bugs Concert" at the Puyallup Public Library on Friday, August 15th at 3pm is a free concert starring Nancy Stewart, and is part of the 2008 Summer Reading Program. Children between the ages of 0 and 12 years old are encouraged to "Catch the Reading Bug!" this summer. Every child who reads (or is read to) 10 hours or more this summer will get a free book and a ticket to Northwest Trek/Pt. Defiance Zoo & Aquarium and other goodies.
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Windermere Realtor - Real Estate Market Analysis, Single-Family Home and Condo Marketing, Seller Representation and Buyer Representation in Puyallup, Spanaway, Graham, Sumner, Orting and Tacoma.
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