Mortgage rates expected to trend higher following the October Jobs Report

Recruitment or Employment Issues Chalk Drawing

Yesterday morning, the Jobs Report was released with data for the month of October. The report gave an overall healthy picture of the economy and came in slightly stronger than expected with 161,000 jobs added in October and positive revisions made to August and September. [Read more…]

Mortgage rates dropping following the Brexit

Mortgage_Porter_Rates_GapInvestors had been banking on the Brits staying in the European Union. This morning’s Brexit narrow vote to leave the EU results stunned the markets. The Dow was down over 500 points. This morning, mortgage rates are dropping.

Want to lock in a historically low mortgage rate? You can start with getting a rate quote or by starting a pre-application. NOTE: I am licensed to originate mortgages for homes located in Washington State.

Mortgage rates drop following the Jobs Report

MortgagePorter-JobsReportThe morning the Jobs Report was released with weaker than expected data with only 38K non-farm jobs added in May. This is far less than the anticipated 155k jobs. In addition, April’s Jobs Report was revised with fewer jobs than originally reported. [Read more…]

What may impact the direction of mortgage rates this week: March 14, 2016

mortgageporter-economyThis week is packed with economic data that may impact the direction of already volatile mortgage rates. Mortgage rates are based on bonds (mortgage backed securities/MBS) and change throughout the day, similar to stocks. MBS may often move in the opposite direction of stocks as investors will seek the safety of bonds when stocks are being volatile.

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What May Impact Mortgage Rates this Week: February 29, 2016

MortgagePorter-JobsReportHappy Leap Year Day! This week is packed full of economic indicators that may impact the direction of mortgage interest rates including the Jobs Report on Friday.

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What may impact mortgage rates this week: February 22, 2016

mortgageporter-economyMortgage rates remain at very low levels. Here are some of the economic indicators scheduled to be released this week.

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What May Impact Mortgage Rates this week: February 15, 2016

mortgageporter-economyI hope you had a Happy Presidents Day! Our office is closed in observance of this holiday.  We will reopen for business as usual, along with the markets, Tuesday morning, February 16, 2016.

However, I still want to share what economic data may influence the direction of mortgage rates for the remainder of this week.

  • Tuesday, February 16: Empire State Index; Housing Market Index
  • Wednesday, February 17: Producer Price Index (PPI); Housing Starts; Building Permits; FOMC Minutes
  • Thursday, February 18: Initial Jobless Claims; Philadelphia Fed Index
  • Friday, February 19: Consumer Price Index (CPI)

We have a lot of data set to be released during this short week. Watch for signs of inflation, which may cause mortgage rates to trend higher off their very low levels.

If I can help you with your refinance or purchase of a home located anywhere in Washington state, please contact me.

 

What May Impact Mortgage Rates this Week: February 1, 2016

MortgagePorter-JobsReportWelcome to February! As it’s the first week of a month, we have the Jobs Report due to be released this Friday. Mortgage rates are at their lowest levels in months. Many Washington home owners are taking advantage and refinancing to either reduce their payment, shorten their mortgage terms or taking cash out for home improvements or to consolidate debt. We are also seeing more home buyers in action too! [Read more…]