What May Impact Mortgage Rates the week of July 23, 2012

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mortgageporter-economyThere are no scheduled economic indicators due to be released today. However, mortgage rates are trending lower this morning due to steepened worries from the Euro-zone, namely Spain and Greece. How could Greece and Spain’s pain cause lower mortgage interest rates? Investors are seeking the safety of bonds, like mortgage backed securities. As I write this post (6:35 PST), the DOW is down about 121 and the Euro has fallen to a two year low.

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Here are some of economic indicators scheduled to be released this week:

  • Wednesday, July 25: New Home Sales
  • Thursday, July 26:  Initial Jobless Claims, Durable Goods Orders, Pending Home Sales
  • Friday, July 27: Gross Domestic Product (GDP), Auto Sales, Consumer Sentiment Index

If you are interested in refinancing or buying a home (primary, investment or vacation) anywhere in Washington state, I’m happy to help you.

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