My apologies for being a couple days late on this post which is typically published on Mondays… I had Monday off (it was my birthday) and with taking a day off, I had fun catching up on emails yesterday.
For my birthday, my husband and I went to Pinot country in Oregon – it is absolutely beautiful. If you enjoy pinot noir or crisp white wine, I recommend you check it out!
Back to our regular scheduled program 😉
Here are some of the economic indicators scheduled to be released this week that may influence the direction of mortgage interest rates:
- Monday, March 16: Empire State Index; Housing Market Index
- Tuesday, March 17: Housing Starts; Building Permits
- Wednesday, March 18: FOMC Minutes
- Thursday, March 19: Initial Jobless Claims; Philadelphia Fed Index
It will be interesting to see if the minutes from the last Fed meeting will have an impact on mortgage interest rates.
As I write this post, Wednesday, March 18, 2015 at 8:10 am, I’m quoting:
30 year fixed: 3.750% (apr 3.877%) priced with 0.944 points with a principal and interest (p&i) payment (taxes and insurance not included) of $1,853.
30 year fixed: 3.875% (apr 3.948%) priced with 0.285 points with p&i of $1,881. This is improved by 0.411 points/fee compared the rate I quoted last week.
As of 8:27 am, the DOW is down about 83 points at 17,765.
UPDATE 1:15 pm: Rates have improved following the release of the minutes and Fed Chair Yellen’s commentary that followed.
30 year fixed: 3.750% (apr 3.849%) priced with 0.602 points.
DOW is up 227 points.
Update 3:15 pm: Rates continue to improve.
30 year fixed: 3.750% (apr 3.830%) priced with 0.369 points.
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 24, 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.
I will check back after the FOMC Minutes are released (around 11:00 Seattle time) to see if rates have changed. Stay tuned!