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What's Ahead for Mortgage Rates This Week of April 27, 2012?

Mortgage markets were mostly unchanged last week for the second straight week. Spain made few moves to allay concerns from its investors, the Federal Reserve did little to change its message on the U.S. economy, and newly-released economic data was in-line with expectations.

Conforming mortgage rates in Washington idled last week, remaining near all-time lows for the 30-year fixed rate mortgage, the 15-year fixed rate mortgage; and the 5-year ARM.

According to Freddie Mac's weekly mortgage rate survey, last week's mortgage rates, as averaged from more than 125 banks nationwide, were as follows :

30-year fixed rate mortgage : 3.88% with 0.7 discount points
15-year fixed rate mortgage : 3.12% with 0.6 discount points
5-year adjustable rate mortgage : 2.85% with 0.6 discount points

Mortgage Rates	03/25/2012
Mortgage Rates continue to be at all time lows. Please call today to see if NOW is the time for you to buy or refinance.

A different approach to home loans. Cascade Mortgage has a different approach to mortgage lending. Our role is to listen to you and use this information to offer the most appropriate way to fiance your property. You will hear us use the term “mortgage planner” as we feel lending is not a single-based transaction; we plan for your current needs and future goals. We want to be your lender for life.

Unique service that is unmatched. From the moment we meet in person, on the phone or via the internet, you will realize how passionate we are about our profession. We feel mortgage lending is a continuous relationship, not a transaction based process. A relationship we value and continue to build upon long after the loan closes. We will continue to monitor your mortgage and notify you of current market conditions so you never miss an opportunity to lower your monthly payment, increase savings or take advantage of investment opportunities.

Cascade Mortgage serves as your gateway to a complex industry. We believe in and are committed to understanding and providing the most current in technology, compliance and an enhanced product line. We continually strive to offer our clients excellent mortgage terms, a mortgage education that is relevant to your financial picture, and professional service.

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CHANGES TO FHA: The upfront Mortgage Insurance premium and the monthly mortgage insurance premiums will increase with case numbers assigned on or after April 1, 2012 for purchase transactions.

HARP REFINANCING: Just recently President Obama announced some changes to the Home Affordable Refinance Program (HARP). These changes include no maximum loan-to-value (you can owe more than your home is worth) and lower fees. Please call today to discuss your situation to see if you can refinance and take advantage of the lower rates!

VA Financing - If you think you may qualify for a VA loan, please call us. We specialize in VA loans. We have a direct portal with VA which allows us to process and close your loan efficiently and quickly.

Homepath Financing- A great program allowing a qualified buyer to purchase a Fannie Mae REO property with little down, no appraisal and no mortgage insurance. Check out more details on the resource page. announced they will be changing their upfront Guarantee Fee and adding an annual fee starting this fall. They also announced their new income limits. Check out the Resource Tab for more information.

Worried about the value of your home or your income but want to refinance? We may be able to help. We offer refinance programs that do not require income verificaiton or appraisals. Programs are available for VA, FHA and certain conventional loans. Call us today to see if your home/mortgage qualifies.