Interest rates and closing costs

These two items are a big part of why we started Portland Loan Team. By eliminating staff and other fixed costs, we are able to offer much better rates and lower costs to our clients. These items also represent a large percentage of the questions we get asked about most often. Interest rates: Average 30 year fixed […]

Is a debt consolidation refinance right for you?

Debt consolidation is more attractive now than it has been for many years. There are two factors creating this favorable environment. 1) Interest rates are at the lowest levels we’ve seen since Trump won the election in November 2016. Here’s a graph of rates over the past two years: Source: 2) Housing values have […]

Resolve to keep your family and home healthy in 2019

Did your 2019 resolutions include getting healthy—physically and financially?  Fix-It Fairs are FREE City of Portland events designed to help you reach those goals. The events occur between November and February at various locations around Portland, 9:30AM – 2:30PM. Ongoing exhibits and hourly workshops cover topics such as: Water and energy savings Safe and healthy home […]

What is a reverse mortgage?

A reverse mortgage** is a strictly regulated and insured Federal Housing Administration (FHA) loan specifically designed for seniors. A reverse mortgage allows homeowners who are at least 62 or older to access the equity in their home. Unlike a traditional mortgage or home equity loan, a reverse mortgage does not have to be repaid until […]

Short-Term vs. Long-Term Interest Rates

The Federal Open Market Committee (FOMC) meets eight times per year to determine increases and decreases in the target Federal Funds Rate. The current target is 1.75% to 2.00%. The FOMC regulates this rate by controlling the amount of currency available in the US economy. The more money available in the marketplace, the faster the […]

Are we in a housing bubble?

Market conditions suggest that Portland is better positioned than other major cities on the West Coast. As you can see, Portland is still the least expensive major market on the West Coast. And the Home Affordability Index (HAI)—calculated by the National Association of Realtors (NAR)— is also lower than any city besides Sacramento. A value […]

The Financial Benefits of Homeownership

Homeownership provides financial benefit in four areas: Monthly cost difference between renting and owning Appreciation in home value Equity growth over time as loan balance is paid down Tax benefit from the deductibility of mortgage interest The information below is based on historical data for the Portland Metro Area and assumes a 4% appreciation rate, […]