What may impact mortgage rates this week: September 28, 2015

MortgagePorter-JobsReportMortgage rates have been a little bouncy lately and remain very low. There has been a lot of “Fed speak” following last week’s Fed meeting with various flip flopping commentary on when the Fed Funds rates may be raised. This Friday we will have the Jobs Report, which tends to impact mortgage interest rates.  Today, the Dow closed down 312 points today at 16,001.

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

  • Monday, September 28: Personal Spending Expenditures (PCE); Pending Home Sales
  • Tuesday, September 29: S&P Case-Shiller Home Price Index; Consumer Confidence
  • Wednesday, September 30: ADP National Employment Report; Chicago PMI
  • Thursday, October 1: Initial Jobless Claims; ISM Index
  • Friday, October 2: The Jobs Report

The 30 and 20 year rates quoted are slightly improved and the 15 year price is slightly higher than what I quoted on last week’s rate post.  As I write this, 4:00 pm on Monday, September 28, 2015, I’m quoting:

EDITORS NOTE: These rates are EXPIRED! Please click here for a current rate quote for your greater Seattle area home.

  • 30 year fixed: 3.875% (apr 3.969%) priced with 0.603 points with p&i of $1,880.95.
  • 20 year fixed: 3.625% (apr 3.785%) priced with 0.874 points with p&i of $2,345.61.
  • 15 year fixed: 3.125% (apr 3.321%) priced with 0.852 points with p&i of $2,786.44.

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 November 5, 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.

 

 

 

Comments

  1. Help us all if the Feds raise the rates! No seriously, rates are still very low right now and the time to take advantage of the low rates is diminishing.

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