Category: General Mortgage Info.

Spring 2025 Housing Market Update: Balanced and Steady Growth

Posted on by Evan in Swanson Home Loans Blog - Mortgage Rate Updates and More

Welcome to Q1’s rate update! With all the uncertainty in the world, many are asking about the state of the housing market. As we wrap up Q1 2025 and move into spring, here’s a quick overview:

  • Housing Market: The market is “Goldilocks” – not too hot, not too cold. New listings are increasing, and net inventory is growing, meaning supply is outpacing demand.
  • Home Prices: Home appreciation in Portland is up 3% year-over-year, slightly below the national average of 4%. Prices are rising more gradually compared to previous years.
  • Interest Rates: Rates have fluctuated between 6-8% since September 2022, averaging around 7%. Recent tariff announcements caused a spike, but rates are now trending lower again.
  • Buyer/Seller Tips: Sellers might consider offering credits or concessions for interest rate buy-downs to attract buyers.

If you have questions or need assistance with housing transitions, feel free to reach out. We’re here to help!

Real Talk Ep 17 with The Twin Team: Jennifer and Katie’s Real Estate Journey

Posted on by Evan in Swanson Home Loans Blog - Mortgage Rate Updates and More

 

Join us on “Real Talk” as we interview Jennifer Raynak and Katie Fracasso, the dynamic “Twin Team” of Living Room Realtors. Discover their inspiring journey and how they’ve built a thriving real estate practice in Portland, centered on community service and client engagement.

Navigating the Competitive Spring Housing Market in Portland

Posted on by Evan in First-Time Homebuyer, Home Purchase

Just yesterday the front page of our local paper highlighted the challenges buyers face in this competitive spring market. If you’re a home buyer, watch this short video for practical steps to achieve the best outcomes:

  1. Be Proactive with Home Loan Financing: Start with a thorough pre-approval. Submit all supporting income and asset documents to get fully pre-approved.
  2. Understand Your Affordability: Know your budget. You might need to offer above list price, so understand how this impacts your payments, closing costs, and cash needed for closing. Work with a lender who explains these options clearly.
  3. Evaluate Contingencies: Consider waiving the appraisal contingency or qualifying for a cash guarantee program.

Want to learn more about your options to win in this marketplace? Contact us today!

Q&A: How Much Money Do You Really Need to Buy a Home?

Posted on by Evan in Swanson Home Loans Blog - Mortgage Rate Updates and More

Thinking about buying a home? In this video I breakdown 4 key areas to consider when figuring out how much money you need:

1. Professional Inspection: Expect costs around $1,000.

2. Closing Costs & Prorated Payments: Ranging from $7,000 to $20,000, but you might negotiate with the seller to cover these.

3. Buyer Representation Fee: Often negotiable with the seller.

4. Down Payment: Many loan programs offer assistance, so you might not need to save for this!

Want to learn more? Contact us!

Exciting Spring 2025 Housing Market Trends for Buyers!

Posted on by Evan in Swanson Home Loans Blog - Mortgage Rate Updates and More

Despite the headlines about high interest rates and lack of affordability, the spring buying season is looking promising!

  • More Homes for Sale: Inventory is up 150% compared to 2020-2021.
  • Balanced Market: More options and better negotiating power for buyers.
  • Motivated Sellers: Longer average days on market and more price reductions.
  • Lower Mortgage Rates: Conventional 30-year fixed rates are at a multi-month low.

Stay focused, work with a professional realtor, and make the most of this balanced market! Contact us today to get started.

Q&A: How much house can I afford?

Posted on by Evan in Swanson Home Loans Blog - Mortgage Rate Updates and More

First-time homebuyers!

Curious about how much house you can afford? Watch this short video as I break down the art and science of determining your ideal home budget.

Learn about:

>Debt-to-income calculations

>The eligibility vs. suitability conundrum

>Personalized financial planning tips

Don’t miss out on expert advice tailored to your unique financial situation! Contact us today for a professional opinion on your home affordability.

Q&A: When Should I Start the Pre-Approval Process?

Posted on by Evan in Swanson Home Loans Blog - Mortgage Rate Updates and More

One of the biggest questions we get from future homeowners is: When should we start the loan pre-approval process? A common mistake is waiting until you’ve found your dream home to contact your lender. Instead, reach out to your lender before you start your home search. Once we have your application, it typically takes just a day or two for an initial pre-approval and a few more days for full underwriting. This way, when you find your dream home, you can move quickly! Remember, loan pre-approvals cost nothing out of pocket and are valid for 120 days. If you have any questions, we’re here to help. Contact us today!

 

 

 

 

How Tariffs Impact Mortgage Rates

Posted on by Evan in Swanson Home Loans Blog - Mortgage Rate Updates and More

Hey everyone, it’s Evan Swanson from Guild Mortgage!

With new tariffs affecting the economy, many are wondering how this impacts the housing market. Here’s a quick breakdown:

>Tariffs can cause inflation, which is a key driver of mortgage rates.
>Higher inflation expectations often lead to higher mortgage rates.
>Good news: Mortgage rates are currently at multi-month lows despite the tariffs!

Stay tuned for more updates as things remain volatile.
Thanks for watching and please reach out with questions or if I can be of assistance!

Real Talk Ep 15 with David Battany: Unlocking Homeownership

Posted on by Evan in First-Time Homebuyer, Fixed Rate, General Mortgage Info., Housing & Real Estate, Mortgage Programs

Welcome to another episode of the Real Talk video podcast series! In this episode, we are thrilled to interview mortgage industry veteran and capital markets expert, David Battany. With over 30 years of experience as a leader in the field, David shares his invaluable insights on the significance of homeownership in our society.  Join us as David demystifies the true determinants of mortgage rates and provides expert advice on when consumers should consider locking in a rate.

His profound understanding and passion for the industry make this episode a must-watch for anyone interested in the mortgage market. Don’t miss out on this engaging and informative conversation with one of the brightest minds in the field. We’re honored to have David on the show!

Fannie Mae’s New Rules: Impact on Condo Financing

Posted on by Evan in Swanson Home Loans Blog - Mortgage Rate Updates and More

Recent changes by Fannie Mae and Freddie Mac regarding HOA master insurance policies are impacting condo financing.

I’ve recorded a detailed video explaining these changes and their effects. If you’re a real estate professional, condo owner, or buyer, this is crucial info!