As I write this morning's post (7:45 am) the DOW continues to slide down 125 points to 12695. When the markets are getting beat up, investors tend to seek the safety of bonds (like mortgage backed securities) which is what we happening right now. Mortgage rates continue to be very low.
If you would like me to provide you with a mortgage rate quote for your home located anywhere in Washington, please click here.
Here are some economic indicators scheduled to be released this week which may impact mortgage rates (no reports are scheduled to be released today).
Thursday, May 17: Initial Jobless Claims and Philadelphia Fed Index
Data showing signs of inflation or an improving economy tends to cause mortgage rates to trend higher. In addition to scheduled reports, unscheduled events, such as Europes financial situation or last week's announcement of JP Morgan Chase losing 2 billion also impacts markets and therefore, may impact mortgage rates.
We have many mortgage programs available to help home owners from Seattle, Redmond to Walla Walla and anywhere in the beautiful state of Washington take advantage of today's lower rates. Whether you're buying a home or looking to refinance using HARP 2.0 or FHA streamlined refinances, if your property is located in Washington, I can help you.