DATE: Wednesday, February 17th, 2025

TIME:  12:30 PM PST

STATES:  OREGON, WASHINGTON & IDAHO

CHANGE THIS WEEK: IMPROVEMENT (since last Wednesday with daily volatility)

SUGGESTION:  LOCK

Since last week, mortgage rates have been gradually dropping. In terms of economic data, this has been a very light week.  For those in a position to lock, it’s best to keep away from risk and do so.  We will continue to monitor economic reports and events and how this will impact mortgage rates. 

As a reminder, reach out to your VMB Broker and make sure to share and compare! Never settle or let anyone else you know settle on one lender if they are approved elsewhere.  Get a quick second opinion (or share our information with others) comparing the VMB network of wholesale lenders as without competition rates, payments, down payment, and fees are substantially higher. 

MONTHLY PAYMENTS: This reflects Principal and Interest (P&I) on Conventional and also including PMI on FHA. Taxes and insurance not included, but need to be factored in housing payments and budget as these can vary by property. A VMG Mortgage Broker can run an analysis anytime by request.

(rates subject to change)

*Rates are subject to change.  Conforming conventional interest rate samples based on a $550,000 purchase price, $412,500 loan amount, 25% down, 760 FICO score, with impounds on a 30-day rate lock period and $1150 underwriting fee if not covered by lender rebates. The affordable programs under Freddie Mac Home Possible and Fannie Mae Home Ready assume the total household income is below 80% of the median household income for the area and a FICO of 760.  Samples are based on a $500,000 purchase price and 5% down.  Payment estimates include P&I and PMI but do not property taxes or insurance. Super Jumbo rates are based on a 780 FICO Score, a $4,000,000 purchase price, a 25% down payment, and a $3,000,000 loan amount. FHA is based on a $550,000 purchase price, $530,750 base loan amount and a 3.5% down payment, 740 FICO score, but other same variables.  This pricing engine reflects the most favorable results after comparing our network of wholesale lending partners.  This pricing engine does not include any other applicable 3rd party title and escrow charges, appraisal, credit report, or prepaid tax and insurance reserves. The displayed annual percentage rates (APRs) include total points and additional prepaid finance charges but do not include other closing costs. Loan pricing may only be locked through a VMB home loan consultant to be effective after a formal loan application. Rates will depend in part on your unique credit history and transaction characteristics. Monthly payments include principal, interest, and PMI if applicable, but do not taxes and insurance. This is not a formal Loan Estimate (LE).  A Loan Estimate is provided and can be requested pursuant to Federal regulations and with a formal loan application.  This information does not constitute a loan commitment or approval.