Happy 2015! Mortgage rates are kicking off the new year trending lower with more troubles from the Euro-zone. This week is packed with economic indicators which may impact the direction of mortgage interest rates. If one of your New Year resolutions is to save money, now is a great time to look at refinancing to reduce your monthly mortgage payment and create more cash flow to pay off debts or help fund your retirement. Click here if your home is in Washington state and you would like me to help review your current scenario.
Here are some of the economic indicators scheduled to be released this week:
- Tuesday, January 6: ISM Index
- Wednesday, January 7: ADP National Employment Report; FOMC Minutes
- Thursday, January 8: Initial Jobless Claims
- Friday, January 9: The Jobs Report
Mortgage rates are improved compared to last week’s mortgage rate post. As I write this, January 5, 2015 at 9:00 am, I’m quoting:
EDITORS NOTE: The rates quoted below are expired. For a current rate quote on your home located in Washington state, please click here.
30 year fixed: 3.750% (apr 3.893%) priced with 1.103 points with a principal and interest (p&i) payment (taxes and insurance not included) of $1,853.
30 year fixed: 3.875% (apr 3.970%) priced with 0.507 points with p&i of $1,881.
20 year fixed: 3.625% (apr 3.768%) priced with 0.629 points with p&i of $2,346.
15 year fixed: 3.000% (apr 3.210%) priced with 0.848 points with p&i of $2,763.
Rates quoted above are based on a purchase in the greater Seattle – King County area with a sales price of $500,000, 20% down payment and a loan amount of $400,000. The home buyers have excellent credit with credit scores of 740 or higher and the transaction is closing by February 12, 2015 or sooner.
Rates quoted are subject to credit approval and may change at any time. This is just a small sample of the mortgage rates and programs that I have available. If you would like me to provide you with a mortgage rate quote for your home purchase or refinance on your home located anywhere in Washington state, please click here.
PS: I’m teaching a home buyers class in Seattle this month sponsored by the Washington State Housing Finance Commission. Students are eligible for down payment assistance and mortgage credit certificates. If you are interested in learning more about the home buying process, please rsvp today! Here’s a list of my current classes.