What May Impact Mortgage Rates this Week: February 23, 2015

mortgageporter-economyThis week is packed full of economic indicators and events that may influence the direction of mortgage interest rates, including Fed Head Janet Yellen’s two day testimony in front of Congress which starts tomorrow. Here’s a list of economic indicators scheduled to be released this week:

  • Monday, February 23: Existing Home Sales
  • Tuesday, February 24: S&P/Case Shiller Existing Home Price Index; Consumer Confidence
  • Wednesday, February 25: New Home Sales
  • Thursday, February 26: Initial Jobless Claims; Consumer Price Index (CPI); Durable Goods Orders;
  • Friday, February 27: Gross Domestic Product (GDP); GDP Chain Deflator; Chicago PMI; Consumer Confidence (UoM)

Mortgage rates are still below 4% and in my book… that’s EXTREMELY LOW!  As I write this post, Monday, February 23, 2015 at 1:45 pm, I am quoting:

EDITORS NOTE: THESE RATES ARE EXPIRED. If you would like me to provide you with current rates for your home in Washington, please click here.

30 year fixed: 3.750% (apr 3.883%) priced with 1.007 points with  a principal and interest (p&i) payment (taxes and insurance not included) of $1,853.

30 year fixed: 3.875% (apr 3.959%) priced with 0.410 points with p&i of $1,881.

20 year fixed: 3.625% (apr 3.790%) priced with 0.847 points with p&i of $2,346.

20 year fixed: 3.750% (apr 3.834%) priced with 0.132 points with p&i of $2,372.

15 year fixed: 3.000% (apr 3.213%) priced with 0.902 points with p&i of $2,763.

15 year fixed: 3.125% (apr 3.267%) priced with 0.404 points with p&i of $2,787.

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 April 2, 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.

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  1. […] to last Monday’s rate post, rates are overall improved. The 30 year is essentially priced the same. The most notable […]

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