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2012 May · WAHomeowners.com

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Wow! 30-year mortgage rate drops to new record of 3.75 percent.

Wow! 30-year mortgage rate drops to new record of 3.75 percent.

Average U.S. rates on 30-year and 15-year fixed mortgages dropped to record lows again this week, with the 15-year loan dipping below 3 percent for the first time ever reports Freddie Mac.

The average rate on the 30-year loan dropped to 3.75 percent (down from 3.78 percent last week) which is the lowest since longer-term mortgages began in the 1950s.

The 15-year mortgage, which is a popular option for refinancing, fell to 2.97 percent (down from 3.04 percent last week).

These low rates make it an excellent time to buy or refinance for those who are able. Check out our Homeownership Simplified section a for information & tips on buying a house in Washington State as well as our handy calculators to figure out potential mortgages, closing costs, and more!

Move up or Stay Put?

Move up or Stay Put?

Between price reductions and record low interest rates, many homeowners are asking themselves if now is a good time to move up.

Buying under today’s conditions can mean getting more home for less buck. You’ll pay a smaller amount of interest over time and can snag that dream home for a fraction of it’s boom era price. Additionally, with the large number of distressed homes on the market, you may even find a home at a steep 10 to 20 percent discount.

Before you start mentally decorating that dream home, however, you should consider what “moving up” means for you. For some buyers, moving up means a better neighborhood. For others it means a bigger home with more space or amenities.

Read More on Realty Times…

Thinking of moving up? Check out our handy calculators to figure out potential mortgages, closing costs, and more!

Seattle among U.S. cities to see biggest rise in home prices

Seattle among U.S. cities to see biggest rise in home prices

Home prices rose in March from February in most major U.S. cities for the first time in seven months. The increase is the latest evidence of a slow recovery taking shape in the troubled housing market.

The Standard & Poor’s/Case-Shiller home price index shows that prices increased in 12 of the 20 cities it tracks.

Read Full Story on KOMO…

Seattle-area home prices rise 1.7 percent in March from February

Seattle-area home prices rise 1.7 percent in March from February

Home prices in the Seattle metropolitan area bounced back in March after declining for seven straight months, according to one closely watched index, providing more evidence the market may at long last have hit bottom.

Prices were up 1.7 percent from February, according to the S&P/Case-Shiller Home Price Index. Among the 20 cities Case-Shiller tracks, only Phoenix saw a bigger month-over-month increase.

Read More on The Seattle Times…

Happy Memorial Day

A moment of silence in remembrance and gratitude.