What May Impact Mortgage Rates this week: May 4, 2015

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MortgagePorter-JobsReportMortgage interest rates have been trending higher over the last week. Rates are still very low in the 3’s, however it wouldn’t take much to see the 30 year move into the 4% range.  This Friday, we’ll have the Jobs Report which tends to impact mortgage rates for better or worse.

Here are some of the economic indicators scheduled for this week:

  • Tuesday, May 5: ISM Index
  • Wednesday, May 6: ADP Employment Report; Productivity
  • Thursday, May 7: Initial Jobless Claims
  • Friday, May 8: The Jobs Report

Mortgage rates are about 0.125% higher (in rate) compared to last week’s rate post. As I write this post, Monday, May 4, 2015 at 2:00 pm, I’m quoting:

EDITORS NOTE: Rates posted below are EXPIRED! If I can provide you with current mortgage rates for your Washington home, please click here.

  • 30 year fixed: 3.750% (apr 3.898%) priced with 1.184 points with  a principal and interest (p&i) payment (taxes and insurance not included) of $1,852.46.
  • 20 year fixed: 3.625% (apr 3.821%) priced with 1.114 points with p&i of $2,345.61.
  • 15 year fixed: 3.000% (apr 3.226%) priced with 0.985 points with p&i of $2,762.33

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 June 11, 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. […] quote is about 0.125% higher in rate than what I quoted on Monday and roughly 0.25% higher in rate than what I quoted 10 days […]

  2. […] rates improved following the Jobs Report. This morning, they’re trending higher again and to essentially the same pricing as last Monday’s rate post (slightly improved pricing). People are often surprised by the recent volatility with rates and to […]

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