Mortgage Rates are now at their lowest level since February of ’23. This week’s CPI report came in marginally worse than expected, but it was not bad enough to cause a negative reaction in the bond market.
Next week will be a big one with the Fed meeting and the big question is, will the Fed will cut rates by 0.25% or 0.50%? The press conference after the meeting will be closely watched by the bond market for clues as to how aggressively the Fed may cut rates the rest of this year and into 2025.
The next Federal holiday is Columbus Day on Monday, October 14, 2024. All Federal, State, and County offices will be closed this day. There will be no fundings or recordings on this day. Following that, Veteran’s Day is November 11th and Thanksgiving is November 28th. Keep that in mind for contract closing dates.
Appraisal Turn Times: Vancouver/Portland Metro Area: 4-6 days; Cowlitz County: 6-8 days; Lewis County: 7-9 Days; Skamania County: 8-10 days.
Today’s Rates for the Home Advantage Down Payment Assistance Loan with the WSHFC. Down Payment assistance with Home Advantage is 3% - 5% of the loan amount, depending on the pricing/program chosen. I am a Commission-trained Loan Officer authorized to work with the WSHFC. I’m happy to meet with your clients to see if they are eligible for the Home Advantage program or any of the other down-payment assistance programs available with the WSHFC.
Mortgage News Daily fixed rate index for 9/13/2024
30-year Conventional – 6.14%
15-year Conventional – 5.66%
30-year Jumbo – 6.40%
30-year FHA – 5.68%
30-year VA – 5.69%
Have a great weekend!
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