“It’s kind of like a term, it’s like, ‘marry the house, date the rate,’ said Luke Zender. “The rate can change … You can refinance at any time.”
Deborah Horne, KIRO 7 NewsSEATTLE — Seattle’s once-sizzling housing market has cooled off a lot which is potentially good news for those looking to buy.
It is, but — and there are two big “buts” — there aren’t that many houses for sale, and interest rates are much higher than they were just a year ago.“First 10 minutes, we were getting offers,” marveled Nelya Calev. “Like ‘you list the property; Ooh, you have an offer. Congratulations.’” The week before, mortgage-purchase applications had declined by 18%. That’s the lowest level since 1995. Purchase applications were down a whopping 41% in just one year.
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