Low mortgage rates throughout Washington State have lowered many housing payments to below monthly rent levels for comparable homes. This gives residents more incentive to buy a new home instead of renting. Other incentives like the FHA 3.5% down payment…
Mortgage markets improved last week on renewed concerns of a European debt default, and Federal Reserve rhetoric.
After a brief run-up two weeks ago, mortgage rates are back below 4 percent.
The U.S. economy is expanding, fueled by a renewed consumer optimism and increased consumer spending.
Mortgage markets were mostly unchanged last week despite a series of positive developments. In addition to Greece successfully reaching a deal with its private creditors, the U.S. economy turned out strong reports -- most notably the Non-Farm Payrolls report.