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There have been a lot of developments over the recent past that are relevant to home buyers in Washington. This article will help get you up to speed on buying a home in Washington in 2022.
From mortgage rates to home prices, we’ve seen quite a bit of change across the real estate industry. So let’s get caught up! Here’s a curated list of our best articles for those who are planning to use a mortgage loan to buy a home in Washington in 2022.
Update on Mortgage Interest Deductions
A congressional tax committee released a report that showed fewer homeowners in Washington and nationwide will use the mortgage interest deduction in 2022. Most of the benefits will go to wealthier households. This is a story we’ve been following, and writing about, for months.
Bremerton, Spokane, and Tacoma Hot Housing Markets in 2022
According to recent forecasts, three Washington cities have seen big home-price gains of any major metro area in the U.S. Bremerton, Spokane, and Tacoma made the list of top-appreciating housing markets.
Low Inventory Boosting Home Prices
House values across Washington State have risen steadily so far in 2022, and tight inventory in many markets across the state is playing a big role. Limited inventory increases competition among buyers.
ARM Loans Becoming More Popular
According to surveys conducted by the Mortgage Bankers Association, a higher number of home buyers in Washington and nationwide are using adjustable / ARM loans to buy a house. But the 30-year fixed-rate mortgage is still the most popular product by far.
An Overview of Mortgage Requirements
This article is a must-read for Washington home buyers who need to use a mortgage loan to finance their purchases. It explains some of the common requirements borrowers encounter when applying for a home loan in Washington.
The articles above offer a good update on real estate and mortgage trends in Washington. So they make excellent reading material for anyone planning to buy a house in Washington in 2022. For those in a hurry, here’s a recap of the biggest stories, trends and developments.
Washington real estate and mortgage trends as of spring 2022:
Sammamish Mortgage has been helping Washington home buyers and homeowners with their mortgage needs since 1992. We’re a family-owned business based in Bellevue, WA, and provide mortgage programs to borrowers in Washington, Oregon, Colorado, and Idaho. Please contact us if you have financing-related questions.
Whether you’re buying a home or ready to refinance, our professionals can help.
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No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.