What may impact Mortgage Rates this week: October 26, 2015

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mortgageporter-economyThis week is packed with economic data that may impact the direction of mortgage interest rates. You may special attention to Wednesday, when the Fed meeting wraps up. It is not anticipated that the Fed will change the Fed Funds Rate. However, the press release and Fed commentary following the meeting will be parsed.

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

  • Monday, October 26: New Home Sales
  • Tuesday, October 27: Durable Goods Orders; S&P Case-Shiller Home Price Index; Consumer Confidence
  • Wednesday, October 28: FOMC Meeting
  • Thursday, October 29: Initial Jobless Claims; Gross Domestic Product (GDP); Pending Home Sales
  • Friday, October 30: Personal Consumption Expenditures and Core PCE; Employment Cost Index; Chicago PMI; Consumer Sentiment (UoM)

Rates are still very low, with pricing trending slightly higher compared to last week’s mortgage rate post. As I write this, Monday, October 26, 2015 at 10:00 am, I am quoting:

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

  • 30 year fixed: 3.750% (apr 3.853%) priced with 0.532 points with p&i (principal and interest) of $1,852.42.
  • 20 year fixed: 3.500% (apr 3.678%) priced with 0.832 points with p&i of $2,319.84.
  • 15 year fixed: 3.000% (apr 3.225%) priced with 0.857 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 December 3, 2015 or sooner.

Rates quoted are subject to credit approval and may change at any time. Payments quoted above do not include property taxes or insurance and are principal and interest only. 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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