This is a short week with the Christmas holiday rapidly approaching. With many traders being on vacation for the holidays, we will most likely see additional volatility through the end of this year. Next week will be a short holiday week as well.
Here are some of the economic indicators scheduled to be released this week that may impact the direction of mortgage interest rates:
- Tuesday, December 22: Gross Domestic Product (GDP); GDP Chain Deflator; Existing Home Sales
- Wednesday, December 23: Personal Consumption Expenditures (PCE); Personal Income; Personal Spending; Durable Goods Orders; Consumer Sentiment (UoM); New Home Sales
- Thursday, December 24: Initial Jobless Claims
- Friday, December 25: Merry Christmas! Markets are closed.
Our office will be closing early on December 24th for the Christmas holiday and will reopen for business as usual on Monday, December 28, 2015.
Interest rates are priced slightly higher with exception to the 15 year, than what I quoted on last week’s mortgage rate post and slightly improved since the Fed announced the increase to the Fed Funds rate. As I write this post, 10:00 am on December 22, 2015, I’m quoting:
EDITORS NOTE: Rates quoted below are EXPIRED! If I can provide you with current rates for your Washington property, please click here.
- 30 year fixed: 4.000% (apr 4.122%) priced with 0.723 points with p&i (principal and interest) of $1,909.66.
- 20 year fixed: 3.750% (apr 3.935%) priced with 0.880 points with p&i of $2,371.55.
- 15 year fixed: 3.250% (apr 3.488%) priced with 0.925 points with p&i of $2,810.68.
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 January 29, 2016 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.
The photo in this post is a black velvet painting that I did a couple years ago with my Dad as Santa. Merry Christmas and a Happy Holiday Season to you and yours!