Mortgage Rates and Inflation (The Ongoing Saga) It’s no surprise. Everyone is feeling inflation. Total household debt rose by $212 Billion to reach $17.5 trillion in the fourth quarter of 2023. That one takes a bit to sink in. What’s worse is that interest rates are up and will stay up until the Federal Reserve feels they have enough evidence to cut rates with inflation slowing. Credit card balances increased by $50 Billion to $1.13 Trillion during this same quarter, according to the latest Quarterly Report on Household Debt and Credit. Delinquency transition rates increased for all debt ty ..read more

Are you thinking about making a move? If so, now may be the perfect time to start the process. That’s because experts say the best week to list your house is just around the corner. A recent Realtor.com study looked at housing market trends over the past several years (with the exception of 2020, since it was an unusual year), and found the best week to put your house on the market this year is April 14-20: “Every year, one week stands out from the rest as that perfect stretch of time when it’s great to be a home seller. This year, the week of April 14–20 is the b ..read more

In light of the NAR settlement, there is still plenty to work through on how lenders will handle this and the best ways to navigate this as a buyer’s agent. However, we wanted to give you a few resources to get a jump on it, and we will continue to provide information and be a vital resource as it becomes available.  We also attended a Tom Ferry webinar recently, which provided some excellent information on how to help navigate this.  Please review these details and resources and contact us with any questions. We assure you that this will be business as usual in the near future an ..read more

If you are moving due to a new job, relocating cities, needing a larger or smaller home, or any other reason, it can be tricky to time things just right. Should you keep your current home while you move or will you need to make sure that your home is sold before you commit to a new purchase? The exact timeline can vary baked on your individual situation. Sell, Then Buy You can begin the home search process while still living in your current home. This is what most people do, since finding the right home can take awhile. But if you plan to use the equity in your current home as part of t ..read more

If you’re planning to buy your first home, saving up for all the costs involved can feel daunting, especially when it comes to the down payment. That might be because you’ve heard you need to save 20% of the home’s price to put down. Well, that isn’t necessarily the case. Unless specified by your loan type or lender, it’s typically not required to put 20% down. That means you could be closer to your homebuying dream than you realize. As The Mortgage Reports says: “Although putting down 20% to avoid mortgage insurance is wise if affordable, it’s a myth ..read more

Are you feeling a bit unsure about what’s really happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true. The simplest answer is: that what you read or hear will vary based on the time frame they’re looking at. Here’s some information that can help clear up the confusion. Mortgage Rates Are Volatile by Nature Mortgage rates don’t move in a straight line. There are too many factors at play for that to happe ..read more

Happy New Year! As we bid farewell to the old year and welcome the new one, we want to thank all of you for the support you’ve shown us over the last 16 years as past clients, business partners, friends, family, and colleagues. We greatly appreciate your referrals for those you know seeking a mortgage in Oregon, Washington, and Idaho. We rely on this support and work hard to produce unmatched service, experience, and the most competitive rates and terms to continue earning it. As many of you know, the last two years have been the most challenging the mortgage industry has seen.&nb ..read more

The Federal Housing Finance Agency (FHFA) just announced the 2024 Conforming Loan Limits for Residential Mortgage Loans acquired by Fannie Mae and Freddie Mac.  As was expected based on the continuing increase in housing prices, the limits increased significantly.  To see the new loan limits by county in Oregon, Washington and Idaho visit our Conforming Loans page HERE The post FHFA Announces 2024 Conforming Loan Limits appeared first on Vantage Mortgage Brokers ..read more

Continued Inflationary Pressure on Mortgage Rates and Housing Mortgage rates have continued to rise and hit a year-to-date peak in recent weeks that we have not seen for over 23 years.  We hope that this peak is now in our rear-view mirror and we’re through the worst of it, but inflation data each month has not shown favorable signs that it is decreasing at a fast enough rate.  As a result of sustained elevated rates, mortgage applications are down across the country and the real estate market is feeling the pressures of the lowest affordable housing on record. Our team at Vantage ..read more

Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below):   That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know.    How Higher Mortgage Rates Impact You   There’s no denying mortgage rates are higher right now than th ..read more