Refinance Loans and Equity Loan Refinancing – Check with Loan Officer for Portland Specific Pricing
Our Portland mortgage lenders offer discounted refinance rates for fixed mortgages, HELOC credit lines and good home equity loans. Oregon residents can access premium refinancing loans with options for conventional, VA, FHA, subprime and home equity.
New Portland Loan Limits for FHA, Fannie Mae and Freddie Mac home loans.
MSA Name | County Name | State | One-Family | Two-Family | Three-Family | Four-Family |
| PORTLAND-VANCOUVER-BEAVERTON | YAMHILL | OR | $418,750 | $536,050 | $648,000 | $805,300 |
| PORTLAND-VANCOUVER-BEAVERTON | COLUMBIA | OR | $418,750 | $536,050 | $648,000 | $805,300 |
| PORTLAND-VANCOUVER-BEAVERTON | CLACKAMAS | OR | $418,750 | $536,050 | $648,000 | $805,300 |
| PORTLAND-VANCOUVER-BEAVERTON | MULTNOMAH | OR | $418,750 | $536,050 | $648,000 | $805,300 |
| PORTLAND-VANCOUVER-BEAVERTON | WASHINGTON | OR | $418,750 | $536,050 | $648,000 | $805,300 |
Portland Market Starts to Fall By Nick Rian
Portland’s housing market takes a nose dive. Home sales in the metro area fell by almost 700 from June to July, after a six month spurt of growth in sales and housing prices.
“With sky-high energy prices, rising interest rates and a cooling housing market, can U.S. households continue pulling rabbits out of their hat? Not likely,” writes Benjamin Reitzes, an economic analyst for BMO Nesbitt Burns. The housing market is cooling, but this will open many opportunities for more consumers to get in and buy a home.
The median home price in the region increased from $297,700 in January to $331,900 in June. However, the market took a downturn in July, witnessing a decline in both sales and average home prices. July sales experienced a decrease of over 600 points, totaling 2,713, and the average price saw a drop of more than $6,000 to $325,700.
Economist Benjamin Reitzes suggests that the lower home prices could lead to a slower withdrawal of equity through refinancing mortgages, resulting in reduced consumer spending by around $225 billion in the next year. Given consumers’ negative savings for 15 consecutive months, Reitzes anticipates a significant decline in spending.
Contrarily, John Ryding, chief U.S. economist for Bear Stearns, holds a different view, stating, “We believe that strong income growth…will provide important support to consumer spending.” He points out that the economy indicates the fastest growth in real wages in over five years.
Nationwide Mortgage Loans provides financing options for borrowers with varying credit profiles, offering prime rate refinancing and home equity loans to maximize tax deductions and benefit from simple interest. If you are contemplating financing a second home for vacation or investment purposes, consult your loan officer about the latest FHA Home Loans available.
