Mortgage Rate update the week of September 24, 2012

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We don’t have economic indicators set to be released today however mortgage rates are being influenced once again by the Eurozone.  There are more potential issues with Greece that may be revealed by the Troika report after our elections.

Here are some of the economic indicators scheduled to be released this week that may impact mortgage rates:

Tuesday, Sept. 25: S&P/Case-Shiller Home Price Index and Consumer Confidence

Wednesday, Sept. 26: New Home Sales

Thursday, Sept 27: Initial Jobless Claims; Durable Goods Orders; GDP (Gross Domestic Product); Pending Home Sales

TGI Friday, Sept 28: PCE (Personal Consumption Expenditures); Chicago PMI and Consumer Sentiment (UoM)

Mortgage rates continue to be at very low levels, even if you have refinanced a year ago, it may be worth considering a refinance. Today’s home buyers may qualify for “more home” thanks to how low today’s mortgage rates are. If you’re considering buying your first or move up home, an investment property or a vacation home, contact your local mortgage professional to get preapproved.

This morning, for a purchase with a sales price of $500,000 with 20% down payment with 740+ credit scores and taxes and insurance included in the mortgage payment, I’m quoting for 30 year fixed: 3.375% (apr 3.440) with a slight rebate credit towards closing cost or 3.250% (apr 3.340) priced with a small discount.

If you are interested in a mortgage for a home located in Redmond, Renton, Redondo or anywhere in Washington, I’m happy to help you!

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  1. […] rates are essentially the same (slightly more rebate) as what I quoted on last Monday's mortgage rate update. As of the writing of 8:50am this morning, I'm quoting 3.250% (apr 3.334) for a 30 year fixed […]

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