What may impact mortgage rates this week: July 22, 2013

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This week’s calendar is looking a little light as far as economic indicators that are scheduled to be released. Mortgage rates have been improving following Ben Bernanke’s dovish comments to Congress last week.

Here’s whats on the calendar for this week:

  • Monday, July 22: Existing Home Sales
  • Wednesday, July 24: New Home Sales
  • Thursday, July 25: Initial Jobless Claims
  • Friday, July 26: Consumer Sentiment (UoM)

Mortgage rates are trending lower. 🙂  Rates are about 0.125% lower in rate or a half point lower in fee compared to what I quoted on last Monday’s post.  As of the publishing of this post, Monday, July 22, 2013 at 8:00 am PST, for a 30 year fixed conventional mortgage, I’m quoting:

  • 4.250% (apr 4.427%) priced with 1.252 points.
  • 4.375% (apr 4.503%) priced with 0.667 points.
  • 4.500% (apr 4.577%) priced with 0.063 points.

This rate is based on a loan amount of $400,000 for a detached single family dwelling with a sales price of $500,000 (20% down payment) with the home buyers having credit scores of 740 or higher closing by August 29, 2013.

Remember, rates (pricing for rates) change constantly and may have already changed, for better or worse. If you would like me to provide you with a quote with current rates for your home located any where in Washington state, please click here.

 

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