What May Move Mortgage Rates the week of May 29, 2012


This past weekend, we made an addition to our family, a flat coated retriever pup who we call Scupper.

2012-05-27 14.52.46While this has nothing to do with mortgages or how low rates are right now, I just wanted to share this cute fella with you.

Mortgage rates continue to be a very low levels. Many home owners are taking advantage of this and refinancing now – especially if they qualify for FHA streamline or HARP 2.0.

We’re also seeing purchase business continue to pick up in the Seattle area. If you are considering buying a home, it’s crucial to get preapproved as early as possible so that you can present a strong offer as you may find you have competition with other buyers.

Here are a few scheduled economic indicators that are to be released the week of May 29, 2012.  For a short week, we have plenty of data being released that my impact mortgage rates. On Friday, we have the big dog being released: The Jobs Report. Of course unscheduled events may also impact mortgage rates such as what’s going on with Europe’s economy.

Tuesday, May 29: Consumer Confidence

Wednesday, May 30: Pending Home Sales

Thursday, May 31: ADP National Employment Report, ADP Chain Deflator, Initial Jobless Claims, Gross Domestic Product and Chicago PMI

Friday, June 1: The Jobs Report and ISM Index

If your home that you’re considering buying or refinance is located anywhere in Washington state, I’m happy to help you with your mortgage needs. I have been originating mortgages at Mortgage Master Service Corporation for the past 12 years where we offer conventional, FHA and VA mortgage loans including Fannie Mae Homepath and HARP 2.0.  Click here for your mortgage rate quote on your Washington home.

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