What May Impact Mortgage Rates this Week: June 2, 2014

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10411447_10152078824926046_4939461706859094014_n I am writing this post from the 2014 Flat Coat Retriever Specialty competition in Albany Oregon. This photo is from this morning’s sweepstakes for 6-9 month old puppies and I”m pleased to share with you that Hitch and I took 4th place out of 16 puppies. Not too bad for our first show (both rookies). This has nothing to do with mortgages but I’m so proud of my puppy, that I just had to share this with you.

Okay…back to mortgages and what may impact the direction of rates this week. No economic indicators were released today. Here’s what the rest of the week looks like:

Monday, June 2nd: ISM Index
Wednesday, June 4th: ADP National Employment Report; Productivity; ISM Services Index; Beige Book
Thursday, June 5th: Initial Jobless Claims
Friday, June 6th: THE  JOBS REPORT

Watch for the Jobs Report on Friday which tends to carry some weight with the direction of mortgage rates.  If data comes in better than expected, you can see mortgage rates trend higher.  More jobs added can mean higher rates as it could be a sign of potential inflation (wage inflation).  And of course, worse than expected data may cause mortgage rates to improve.

If my team and I can help you with your home loan anywhere in Washington state, please contact me. You can click here, if you would like me to provide a rate quote for a home refi or purchase of your first home, move up home, investment property or vacation home.

Hitch thanks you!

 

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