What May Impact Mortgage Interest Rates this week: March 2, 2015 – Rates Improved

MortgagePorter-JobsReportThis being the first week of the month, means that Friday, we will have the Jobs Report. Last month, the better than expected Jobs Report sent mortgage rates trending higher.

Here are some of the economic indicators scheduled to be released this week:

  • Monday, March 2: Personal Consumption Expenditures; Core PCE; ISM Index
  • Wednesday, March 4: ADP National Employment Report; ISM Services Index; Fed Beige Book
  • Thursday, March 5: Initial Jobless Claims; Productivity
  • Friday, March 6: The Jobs Report

Not an economic indicator…but something you or someone you know may be interested in:

Saturday, March 7: I will be teaching a home buyer education class at the Shoreline Public Library with Jim Reppond of Coldwell Banker Danforth. Students who attend this WSHFC sponsored class are eligible for WSHFC mortgage programs, down payment assistance programs and mortgage credit certificates (MCC). Here’s a list of all classes I am currently teaching. Space is limited – so please rsvp today!

Compared to last Monday’s rate post, rates are overall improved. The 30 year is essentially priced the same. The most notable improvement is to the 20 year and 15 year conventional. As I write this post, Monday, March 2, 2015 at 8:00 am, I’m quoting:

NOTE: Rates quoted below are old news and expired. If I can provide you with a current mortgage rate quote for your home located in Washington state, please click here.

30 year fixed: 3.750% (apr 3.874%) priced with 0.911 points with  a principal and interest (p&i) payment (taxes and insurance not included) of $1,853.

30 year fixed: 3.875% (apr 3.960%) priced with 0.419 points with p&i of $1,881.

20 year fixed: 3.500% (apr 3.670%) priced with 0.899  points with p&i of $2,320.

20 year fixed: 3.625% (apr 3.705%) priced with 0.111 points with p&i of $2,346.

15 year fixed: 3.000% (apr 3.182%) priced with 0.690 points with p&i of $2,763.

15 year fixed: 3.125% (apr 3.236%) priced with 0.190 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 conventional 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 9, 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. […] rates have since calmed down a since closing on Friday. Rates are currently still higher than what I quoted last week. As I write this post, 2:00 pm on Tuesday, March 10, 2015, I am […]

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