Kevin Schmidt, NMLS 91450 - Summit Mortgage Corporation

💡Interest rates are expected to fall this fall, potentially saving you money through mortgage refinancing. If you purchased during the post-pandemic rate surge, it may be worth consulting with your SMC Mortgage Banker to see what possible savings could be in store if you were to refinance.

This article explores the pros and cons to help you decide if it's the right move for you.

Does mortgage refinancing make sense this fall? Here's why it could There are multiple reasons why a mortgage refinance may make sense for you now. Here's what to know.

Attention homebuyers! 🏠

The recent decline in mortgage rates is making homeownership more affordable. Don't miss out on this opportunity to get into the market! This article dives into how changing conditions could bring buyers off the sidelines.

Let's connect today and see what your options are!

Changing Conditions Could Bring Buyers Off the Sidelines Is a buyer’s market coming?

💡 With anticipated interest rate drops on the horizon, now may be the ideal time to explore refinancing your existing mortgage, securing a home equity line of credit (HELOC), or making a strategic home purchase.

Connect with me today to discuss your options!

Summit Mortgage Corporation | Expected Rate Cut Subscribe to our monthly e-news to stay up-to-date with the housing market.

🏠 Good news for homebuyers! Falling mortgage rates could mean more homes on the market!

📈 Is the housing market cooling down? While home prices are expected to remain high, falling mortgage rates could lead to a rise in home sales.

🤔 Is it a buyer's or seller's market? This article explores how falling mortgage rates could impact both buyers and sellers in the market today.

✔️ Take a read for more insight!

https://www.realtor.com/advice/sell/experts-predict-housing-market-mortgage-drop-rate-cut

PPI came in lower than expected, another sign inflation is cooling off! CPI comes out tomorrow and should show the same trend.

Wholesale inflation measure rose 0.1% in July, less than expected The producer price index for July was expected to increase 0.2%, according to the Dow Jones consensus estimate.

💡 Mortgage rates are down a full percent from their recent peak.

If higher rates were the biggest thing keeping you on the sidelines, this may be exactly what you were waiting for.

If you’re ready to jump back into the market– looking forward to hearing from you!

Rates are expected to moderately decrease in the second half of the year and with the additional inventory, price growth should temper, which is good news for interested homebuyers!

✔️ Take a read for more insight.



https://loom.ly/rhDf5lo

Will Interest Rates Drop in July 2024? | Mortgage Rates Forecast Mortgage rates moved sideways through 2024. Will they finally trend downwards in July? Here's what the experts think.

Should you buy now or wait?

If you bought a $400,000 home at the start of this year, you’d be set up to gain roughly $83,000 in equity over the next 5 years based on expert forecasts.

So, if you’re ready and able to buy today, remember to factor in the equity that’s at stake as you make your decision.
This is why time in the market is better than timing the market.

✔️Reach out with any if your home loan needs!

1 in 4 mortgages now above 5%. That is crazy from where we were 4 years ago. However, that means people have been buying and making it work. Ask me how before rates start to drop and the homebuying market becomes even more competitive.

ICE Mortgage Monitor: 1 in 4 mortgages now above 5% ICE Report reveals shift in active mortgage market toward higher interest rates

The Price Gap Between New & Existing Homes is Narrowing!

With that being said, buyers are seeing more incentives from builders such as rate buydowns, price cuts and closing cost coverage.

✔️ Take a read for more insight!

The Price Gap Between New & Existing Homes is Narrowing See the latest trends and forecasts for 2024.

The only way to get in front of this housing shortage is to buy now! Prices will continue to climb and even more so when interest rates drop. Build your net worth and buy today!

US housing shortage expands to 4.5 million homes, Zillow reports Can reforming zoning rules open the door to more homes?

Such a great organization!

FriendsPDX Voted Oregon's Most Admired Nonprofit for Nine Years… Organization-wide, 92% of youth go on to enroll in post-secondary education, serve our country or enter the workforce, 83% of youth earn a high school…

📉 Mortgage rates are falling! Rates are now at their lowest point since August, so it's a great time to see if you can save money on your monthly payments.

✔️Reach out if you have any questions regarding your home loan needs.



https://loom.ly/OLWCcrk

Mortgage refinance demand jumps 14% as rates fall to lowest point since August After hitting 8% in October, the rate for the popular 30-year mortgage is heading back down toward 7%.

Check out what the experts have to say about what’s ahead for the housing market. The projections may be better than you think.

Home prices will continue to rise, and we’ll see even more home sales next year.

✔️ Reach out today to talk about the latest forecasts and plan your next move.

The Federal Housing Finance Agency (FHFA) has announced an increase in conforming loan limits for 2024. This means that you may be able to borrow more money to buy a home without having to get a jumbo loan.

Reach out today to learn more!

Summit Mortgage Corporation | 2024 Conforming Loan Limits Subscribe to our monthly e-news to stay up-to-date with the housing market.

💡 The MBS Highway National Housing Index fell to 31 in Nov 2023 from 35 in Oct 2023, though it remains much higher than the reading of 13 from a year ago. Elevated mortgage rates caused buyer activity to slow, while competition for scarce inventory helped keep the majority of prices steady nationwide.

Nice looking condo in West Linn! David Toyer

28636 SW Ash Meadows Blvd APT 21, Wilsonville, OR 97070 | MLS #23627810 | Zillow This 1461 square feet Townhouse home has 2 bedrooms and 2 bathrooms. It is located at 28636 SW Ash Meadows Blvd APT 21, Wilsonville, OR.

$328,000
Taxes $2522 per year
7002 SF Lot
3 bed, 2 bath, 1479 SF
Property qualifies for 100% financing through USDA
I am Licensed in OR, WASHINGTON, CA, SD and ID.

227 E Belair Drive, Moses Lake, WA 98837 | MLS #2163530 | Zillow This 1479 square feet Single Family home has 3 bedrooms and 2 bathrooms. It is located at 227 E Belair Drive, Moses Lake, WA.

As expected for now.

Fed holds rates steady, upgrades assessment of economic growth The Federal Reserve on Wednesday again held benchmark interest rates steady amid a backdrop of a growing economy and labor market.

$350,000
Taxes $3053 per year
9953 SF Lot
4 bed, 2 bath, 2237 SF
Property qualifies for 100% financing through USDA
50 minutes to Boise

I am Licensed in OREGON, WA, CA, SD and ID.

1215 SW 15th Ave, Ontario, OR 97914 | MLS #98886790 | Zillow This 2237 square feet Single Family home has 4 bedrooms and 2 bathrooms. It is located at 1215 SW 15th Ave, Ontario, OR.

Check out this great listing in Laurelhurst!!

4034 NE HAZELFERN PL, Portland, OR 97232 | 23002363 | Engel & Völkers West Portland 48 photos of this $1,250,000, 4 Bed, 3 Bath, 3794 SqFt, Single-Family property located at 4034 NE HAZELFERN PL, Portland, OR 97232 MLS Number 23002363

If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year.

Based on typical seasonality in the market, prices go up most in the spring during the peak buying season, and then price growth slows down as the year goes on.

✔️ Never hesitate to reach out with any of your home loan needs and questions!

If you're thinking about buying a home, it's important to talk to your lender about closing costs and prepaids. They can help you understand what fees you'll be responsible for and how to budget for them.

✔️ Check out this month's e-news to learn more!

Summit Mortgage Corporation | Prepaids & Closing Costs Subscribe to our monthly e-news to stay up-to-date with the housing market.

Wow, where did the time go?

Thank you to all my clients and referral partners that make my job possible!

🎉 Happy work anniversary to Kevin Schmidt, NMLS 91450 - Summit Mortgage Corporation, one of the first Mortgage Bankers at Summit Mortgage! We're so grateful for your dedication and expertise. He is always willing to go the extra mile for his clients and always has a smile on his face.

Thanks for being a part of our team, Kevin!

Americans are sitting on tremendous equity these days. Nearly two-thirds of homeowners have at least 50% equity – and that much equity can be a real game changer.

✔️ If you sell your current house, you can use your equity towards your down payment. You may even have enough to buy your next home in cash. Curious about how much equity you have? Let’s chat.

💡 The MBS Highway National Housing Index fell to 35 in Oct 2023 from 42 in Sep 2023. One year ago, the index was at 18.

Buyer activity continued to slow as mortgage rates moved above 7.5%, but prices held up much better as competition for scarce inventory remained high!

✔️ Make sure to follow to stay up to date with the housing market.

Rate buydowns and smaller, more affordable new-construction homes are increasing the supply of housing.

✔️ Take a read for more insight on the benefits of owning and how experts predict rates will evolve this coming year!

Housing Market Value Hits New High And survey says homeownership is still key to the American Dream. “If the economy evolves as projected, the [FOMC] projects that the appropriate level of the federal funds rate will be 5.6% at the end of this year, 5.1% at the end of 2024, and 3.9% at the end of 2025.” — Federal Reserve Chair ...

Normally this kind of news would be troubling but in terms of getting a handle on inflation and rising interest rates this is good news.

Private payrolls rose 89,000 in September, far below expectations, ADP says The total was down from an upwardly revised 180,000 in August and below the 160,000 estimate from Dow Jones.