What May Impact Mortgage Rates the Week of September 3, 2012

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Happy Labor Day! Our office is closed today and will reopen for business as usual on tomorrow, September 4, 2012. Here are a few economic indicators scheduled to be released this week which may impact mortgage rates, including Friday’s Jobs Report.

Tuesday, Sept. 4: ISM Index

Wednesday, Sept. 5: Productivity

Thursday, Sept. 6: ADP National Employment Report, Initial Jobless Claims and ISM Services Index

Friday, Sept. 7: The Jobs Report

On Thursday, we may see mortgage rates impacted by Europe following the Central Bank meeting lead by Mario Draghi. Remember, mortgage rates are based on bonds (mortgage backed securities) and when investors seek the safety of bonds over the potential higher return with stocks, mortgage rates tend to improve and vice versa. 

If you are interested in a mortgage rate quote for a purchase or refinance for a home located anywhere in Washington state, please contact me.  You can also see live mortgage rates I’m quoting on Twitter.

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