8 Ways To Protect Yourself From Summer Sun

Summer is fun in the sun, but not with a sunburn. In addition to the discomfort, overexposure to the sun can lead to premature aging of the skin and skin cancer, including melanoma. As you can see above, I'm ALWAYS in a hat when out in the sun, whether I'm in Washington or Hawaii.  Here are some suggestions to protect yourself:

1. Watch the clock. The sun's damaging UV rays are strongest from 10 a.m. to 4 p.m. daylight savings time in the continental U.S. Use extra protection.

2. Use sunscreen with SPF 15 or higher.

Make sure it offers both UVA and UVB protection.

3. Check that your sunscreen is fresh. Note the expiration date – sunscreen lasts no more than three years, less if it's been exposed to high temperatures on the beach or in a closed car.

4. Reapply sunscreen frequently. Put on more when you're out beyond two hours, after a swim, or if you've been sweating. 

5. Wear clothing. No one likes extra clothes in the summer, but they do shield the skin from the sun. Loose, long-sleeved shirts and long pants made of tightly woven fabric work best. T-shirts have an SPF under 15, wet t-shirts even less, so still use sunscreen.

6. Cover your head. A hat with a brim all around is best. Tightly woven fabrics like canvas are better than straw hats with holes. With baseball caps, protect your ears and neck with sunscreen or clothing.

7. Wear sunglasses. Most sold in the U.S. block both UVA and UVB rays, but check to make sure. Look for styles that wrap around and protect the tender skin near your eyes.

8. Seek out shade. You can really reduce the risk of skin damage by getting under an umbrella, tree, or other shelter, especially midday. But still put on sunscreen or protective clothing.

 

7 Retirement Planning Tips No Matter What Your Age

Preparing for retirement is important, whether it's a few years or decades away. Instead of pensions, many employers now offer 401(k) or other defined contribution plans. That means you are the one responsible for saving for your retirement. But don't worry. It's never too late to start – or too early! Here are some retirement tips, no matter what your age.

1.      Adopt a savings mindset. Look at putting retirement money away as paying yourself first. Decide how much to contribute each paycheck, and then have your employer direct deposit the amount into your retirement account. Experts suggest 8% to 10% of your income. Come up with the number by making a budget for all your expenses and other savings, and then deduct this from your net income.

2.     Sign up for your employer's 401(k) or 403(b) plan. Contributions are tax-free to certain limits. Employers often match your contribution, so put in enough to qualify. Seek professional advice in choosing investment options.

3.      Set up an Individual Retirement Account (IRA). If your employer doesn't have a 401(k) or 403(b) plan, open an IRA or a Roth IRA, or a SEP IRA if you're self-employed. There are different requirements and limits for how much you can contribute tax-free. Consult a tax professional for details about any investments with tax implications.

4.     Take advantage of bigger benefits as you get older. Once you reach 50, federal regulations let you contribute more into tax-advantaged retirement accounts to let you "catch up." Seek professional advice on this, but most experts recommend putting in the maximum allowed. 

5.      Start an emergency fund. This is for emergency expenses, such as major home or vehicle repairs, or to help pay the bills between jobs. You don't want to touch your retirement account because you could lose tax benefits or pay withdrawal penalties. Try to set aside 3 to 6 months of living expenses.

6.     Save as much as you can. In addition to retirement and emergency accounts, cut expenses where you can and put money into a savings account you can draw on when you're no longer working. 

7.     Pay off credit card debt. Set up a pay-off plan now, so you won't have to use your retirement money. Once it's paid off, keep making those payments – into your savings account!

Stellar Steamboat Island Property: 7310 Steamboat Island Rd NW, Olympia $360,000

WARNING: Mortgage Rates Jump Almost 1% In One Week!

If you have not heard, over the past 5 days, mortgage rates have skyrocketed!  In the past week, from Thursday 6/13  to Friday 6/21, interest rates have jumped one half to three quarters in RATE with eight mid-day price changes.  To give you an idea how dramatic that is, on Thursday 6/13, I could have locked in a buyer for 30 days on an FHA loan with no loan origination fee at 3.75%.  Today, that same rate would cost the buyer 1% origination plus 2.375% in a buy-down fees.  Or to put it another way, on a $200,000 loan that’s a difference of $6750 in additional loan fees to obtain the same rate from last week!   Now, the same “no origination fee” FHA loan interest rate is sitting at 4.5%.  So on a 200,000 loan amount, a 4.5 rate versus a 3.75 rate, the monthly payment increases by nearly $90/mo.  This is equivalent to almost $18,000 lower purchase price to keep the same monthly payment.

 

Do you have a trusted lender helping you with your purchase?  Consider one of the best lending teams in town, James Nesbit and Jeff Bohl of Republic Mortgage Home Loans.

REPUBLIC MORTGAGE HOME LOANSTumwater Branch |  NMLS# 3148
360.236.9777   office

jnesbit@republicmortgage.com
jbohl@republicmortgage.com

300 Deschutes Way SW, suite 315
Tumwater, WA 98501

 

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Jun 21 2013, 3:49PM

Mortgage News Daily

by Matthew Graham

Nightmare for Mortgage Rates: Way Worse Than Freddie Told You

Mortgage rates have had a far worse week than you've been told anywhere else, and today was even more freakishly destructive than the previous two days. Taken together, this is the worst week for mortgage rates we have on record. Today is one of two times in the past 10yrs where the average borrowing rate for top tier scenarios moved up by at least a quarter of a point. A quarter of a point may not sound like much, but in terms of day-to-day movements in 30yr fixed mortgage rates, it's catastrophic. That leaves best execution rates at a stomach-churning 4.625% today.

PLEASE UNDERSTAND, this is real. Freddie Mac may have been out yesterday with the industry's most commonly cited benchmark for weekly rate movements, but this is merely an average that's tallied through Wednesday. Thursday took rates another eighth to quarter higher and today took rates another quarter higher again. If you're a consumer staring at a rate quote in disbelief, or a Loan Originator who doesn't happen to be a member of MBS Live, please know that today's movements are very real and very justified based on the price movements in MBS.

This movement will eventually end. It could be Monday or rates could go higher all next week. The assessment today is exactly the same as it was yesterday: We'd like to say "we've moved high enough, fast enough that we'll probably be able to dig in and hold some ground here," but that's not safe yet. Market participants themselves, let alone mortgage lenders, are still feeling out the post-Fed-Announcement environment. There's no reason rates can't go even higher just because they've moved so high, so fast.

On a personal note, I know the emotions that tend to accompany times like this can border on overwhelming. If the perspective helps, try to look at your options in terms of payments and costs instead of rates themselves. If you're a consumer, understand that your loan originator is actually every bit as traumatized by this week as anyone, and that no one saw a move quite this big happening quite this fast. Work together to quickly examine what the options are and assess the trade-offs between scenarios.

Look at different terms, different loan types, different levels of buy down (contrary to misguided popular belief, "points" are not a bad thing. Just understand that they amount to a choice between paying interest now or later). Some borrowers may want to pay more closing costs right now in order to get to the payment they can afford. Ultimately it's your choice as to what works best for you, but the message is that we're all in this together, and we're all ultimately working toward the same goals.

Loan Originator Perspectives

"If you are a consumer, and you are shopping rates between lenders, I'd advise you to pick the lender you are most comfortable with, move forward with them and lock your rate in. I have a customer that has been going back and forth between another lender and myself since last week, over a few hundred dollars, and his rate has now gone from 4.125%, with a $1500 credit, to 4.5% with no credit! Find someone you like and that is giving you a competitive offer, and lock it in. Who knows where things ride stops!" -Jason York, VP of VA Operations, Prime Mortgage Lending

"We continue to see constant capitulation in longer term treasuries and complete annihilation of MBS. It would be nice to paint a picture of a possible rebound but obviously all bets are off. The free capitalistic market has to work its way through layers of artificial technical and determine where it needs to be. It's similar to the concept of a fire in a movie theater, everyone gets trampled during the stampede. Floating is a losers game if closing within 30 days, 45-60 should consider locking as well, as time value has not been an element of success." -Constantine Floropoulos, Quontic Bank

"As of this afternoon, rates are up about 1.25% from record lows, but if this levels off for awhile, it won't choke off housing or a broader recovery. It's been a brutal week, but not time to panic yet about the rate spike causing broader economic turmoil. " -Julian Hebron, Branch Manager, RPM Mortgage

"I picked a good week to go on a short vacation. Big Ben has not helped mortgage rates or bond markets at all. Stock market isn't thrilled either. My advice to any consumer is lock now because rates aren't coming back down without a total melt down in stocks and some sort of tape bomb from left field. If you were on the fence for a refinance, you can climb down and go home because whatever you were waiting for is never coming back. Purchasers would be wise to lock asap too." -Mike Owens, Partner, Horizon Financial Inc.

Ongoing Lock/Float Considerations

• After rising consistently from all-time lows in September and October 2012, rates challenged the long term trend higher, but failed to sustain a breakout
• Uncertainty over the Fed's bond-buying plans is causing immense volatility in rates markets and generally leading rates quickly higher
• Fears about the Fed's bond-buying intentions were proven well-founded on May 22nd when rates rose to 1yr highs after the Fed indicated their intention to taper bond buying programs sooner vs. later
• The June 19th FOMC Statement and Press Conference confirmed the suspicions. Although tapering wasn't announced, the Fed made no move to counter the notion that they will decrease bond buying soon if the economic trajectory continues

 

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Jun 20 2013, 6:30PM

by Matthew Graham

Worst 2-Day Move For Mortgage Rates in 4 Years

Mortgage rates are reprising past trauma, now matching the scope of the late 2010 sell-off, with the past two days matching the scope of Black Wednesday's sell-off. "Selling" in this case, refers to the Mortgage-Backed-Securities (MBS) that most directly affect rates. As MBS prices fall, rates rise. The faster this happens, the worse it is for rate sheets, and despite the month and a half of selling, the past two days have been surprisingly abrupt for lenders. Rate sheets have taken the most profound hits we've seen on back to back days (past examples were more concentrated on one of the two days). Conventional 30yr Fixed best-execution is quickly up to a staggering 4.375%-4.5%, though we'd note that there's even more variation between lenders as volatility magnifies the effects of different pricing strategies.

Today's economic data had precious little effect on trading levels, adding to the sense that it's going to take official employment data on July 5th, a change in tone from the Fed, or an unexpected tape-bomb style headline to convince markets that the Fed won't begin curtailing asset purchases in September. While that continues to be the case, interest rate movements continue to be a risk. We'd like to say "we've moved high enough, fast enough that we'll probably be able to dig in and hold some ground here," but that's not safe yet. Market participants themselves, let alone mortgage lenders, are still feeling out the post-Fed-Announcement environment. There's no reason rates can't go even higher just because they've moved so high, so fast.

Ongoing Lock/Float Considerations

• After rising consistently from all-time lows in September and October 2012, rates challenged the long term trend higher, but failed to sustain a breakout
• Uncertainty over the Fed's bond-buying plans is causing immense volatility in rates markets and generally leading rates quickly higher
• Fears about the Fed's bond-buying intentions were proven well-founded on May 22nd when rates rose to 1yr highs after the Fed indicated their intention to taper bond buying programs sooner vs. later
• The June 19th FOMC Statement and Press Conference confirmed the suspicions. Although tapering wasn't announced, the Fed made no move to counter the notion that they will decrease bond buying soon if the economic trajectory continues
• (As always, please keep in mind that our Best-Execution rate always pertains to a completely ideal scenario. There are many reasons a quoted rate may differ from our average rates, and in those cases, assuming you're following along on a day to day basis, simply use the Best-Ex levels we quote as a baseline to track potential movement in your quoted rate).

Disclaimer: This message and any attachments may contain confidential or privileged information and are only for the use of the intended recipient of this message. If you are not the intended recipient, please notify the sender by return e-mail or phone, and delete or destroy this and all copies of this message and all attachments. Any unauthorized disclosure, use, distribution or reproduction of this message or any attachments is prohibited and may be unlawful.

 

 

5 unsightly red flags that drive home buyers away

In many places, home prices are heading up and more buyers are hitting the market. If you're selling, you obviously want to get the best price, but don't want to spend a lot on renovations. Fair enough! However, studies show there are five issues you really should address, because they turn off home buyers right away. Fix these and you have your best shot at selling your home in less time for more money. Best of all, you can tackle these issues yourself for not very much money.

1. Paint problems. Peeling paint on siding and trim makes a house look uncared for and results in lower offers from buyers. Inside, walls painted colors that are dark, like navy, or unusual, like hot pink, are a complete buyer turnoff. But painting is an easy and inexpensive do-it-yourself fix.


2. Unkempt landscaping. Your home's curb appeal can make or break a sale. Get out the clippers, pruning shears, and rake, and weed and mulch the beds. It doesn't take that long to spruce up your landscaping, but it can pay big dividends.


3. Wallpaper and paneling. Outdated wallpaper can really throw buyers. It takes time to strip and repaint, but it's worth it. Have a wallpaper stripping party, or hire a company to do the stripping and repaint the walls yourself. Paneling is tougher because removing it can uncover problems. Painting it may or may not work. Talk to your realtor to decide the best route.


4. Mirrored walls. Big walls of mirrors or mirror tiles just don't fly with most buyers who think removing them is a major project. Take them down yourself; repairs shouldn't be that difficult, and then just repaint. To avoid paint matching problems, either use an accent color or repaint the whole room.


5. Closet doors. Buyers lose their enthusiasm for a place when closet doors are missing, out of adjustment, or if they've been replaced with drapes or beads. Make sure all closets have doors installed, adjusted, and properly working. 

As a buyer, when you see these problems in a home you otherwise like, realize that you could be looking at a bargain. Walk away if exterior paint issues indicate severe moisture problems. But the rest of these conditions are minor issues that you can fix yourself for not much money.

12 Gifts for Handy Dads

A truly rich man is one whose children run into his arms when his hands are empty.  ~ Author Unknown
 
Mark your calendar to celebrate Father's Day this Sunday. I'm so lucky to have an amazing father myself along with an exception father to my children.  Be sure to show the men in your life some extra love this weekend!

My dad & my husband on the High Hunt, September 2009

 

 

Most fathers appreciate a new tool to use around the family abode. Here are a dozen ideas for a range of budgets.

1. Stud Finder. Locating studs in a wall helps with everything from hanging pictures to attaching handrails. There are many models to choose from.

2. Knife Sharpener.Quickly, easily, and accurately keep blades working at their best.

3. Floating Waterproof LED Flashlight. LEDs are super bright and the waterproof floating design is great if the light is dropped in a clogged bathtub or puddle on the driveway. 

4. Multi-Tool. These handy devices can include a wide variety of tools from wire strippers, files, different sized pliers to screwdrivers. Prices increase with the number of options.

5. Drill Bit Set.A new set of drill bits can be appreciated if Dad had his power drill a while and some of the original drill bits have dulled.

6. Packaged Tool Set. Typically the case contains dozens of tools for basic household projects. Keep handy in a closet. Look for sets that include a hammer, tape measure, and level.

7. Hearing Protector with AM/FM Radio and Music Player Compatibility. This is for operating power tools and garden equipment. The design lets Dad listen to his favorite radio station or connect to an MP3 music player through the built-in input jack.

8. Tool Belt. Convenient for carrying tools to the place Dad will use them. Consider adding some items like a big set of pliers or vise grips.

9. Cordless Power Drill. These are great for lots of jobs around the house. Good home units are reasonably priced.

10. String Trimmer. This is perfect for edging lawns and cutting areas too small for the mower. Choose from gas, battery powered, or corded electric models.

11. Leaf Blower. Cleans up leaves and grass clippings, but also terrific for keeping the garage floor clean. There are gas, battery, and corded electric options.

12. Tool Box. Choose between portable models or cabinets with drawers that can swallow a whole workshop.

Interest Rate Update