Portland Mortgage Broker

RISMEDIA, Dec. 27, 2007-The U.S. House of Representatives voted to help many troubled homeowners and potential home buyers looking for an affordable mortgage, making mortgage insurance premiums tax deductible for all mortgages originated for the next three years. The Senate passed this legislation last week by unanimous consent. Mortgage insurance first became tax deductible in [...]

For the 12 months ending in November, 2007 vs. the previous 12 months, the average price in the Portland Metropolitan area appreciated 6.5% according to RMLS. The average price rose from $320,100 to $340,900 and the median price rose from $270,000 to $288,900 for an increase of 7.0% for the same 12 month period. The [...]

The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/4 percent. This move was widely expected, though most recently the markets had factored in a 33% chance of a 50bps cut. The full text of the Fed’s statement released with the announcement is below: [...]

Economists from the University of Oregon have issued a gloomy forecast for the state’s economic health. They say that indications point to a potential recession. The researchers survey eight indicators, from interest rates to payrolls. In particular, Oregon initial unemployment claims rose in October to the highest level since November 2006, while Residential building permits [...]

Employers added 94,000 jobs in November, but a slowdown in job creation in recent months fueled speculation that the Federal Reserve will make a modest cut in interest rates next week. The Labor Department said the national unemployment rate was unchanged at 4.7 percent in November, but it substantially revised its estimates for job growth [...]