Mortgage rates continue to be at low levels and are slightly improved compared to last Monday’s rate post. Here are some of the economic indicators that may influence the direction of mortgage interest rates this week:
- Tuesday, July 15: Empire State Index; Retail Sales
- Wednesday, July 16: Producer Price Index (PPI); Housing Market Index; Beige Book
- Thursday, July 17: Housing Starts; Building Permits; Initial Jobless Claims; Philadelphia Fed Index
- Friday, July 18: Consumer Sentiment (UoM)
As I write this post, July 14, 2014 at 9:30 am, I’m quoting:
- 30 Year Fixed: 4.125% (apr 4.274%) priced with 1.037 points.
- 30 Year Fixed 4.250% (apr 4.329%) priced with 0.206 points. NOTE: This pricing is improved by 0.395 points compared to last Monday’s rate post.
- 15 Year Fixed: 3.125% (apr 3.384%) priced with 1.087 points.
The rates quoted above are based on a purchase closing by August 21, 2014 or sooner in the greater Seattle area with a sales price of $500,000 and a conventional loan amount of $400,000 (20% down payment). Home buyers have excellent credit with scores of 740 or higher.
Rates are subject to credit approval and may have changed by the time you’re reading this post. For your personal rate quote for homes located in Bonney Lake, Bainbridge Island, Bellevue or anywhere in Washington state, please click here.