Mortgage Rates Drop Lower

20190627pmmsFreddie Mac released their weekly mortgage rate update, Prime Mortgage Market Survey, which illustrates just how low mortgage rates have dropped recently.

Mortgage interest rates are at their lowest levels since November 2016. From Freddie Mac’s Chief Economist, Sam Khater:

“While the industrial and trade related economic data continues to dominate the news, the drop in mortgage rates over the last two months is already being felt in the housing market. Through late June, home purchase applications improved by five percentage points compared to the previous month. In the near-term, we expect the housing market to continue to improve from both a sales and price perspective.”

Homeowners with rates in the mid-4’s or higher and those with FHA or private mortgage insurance have been taking advantage of the economic situation and refinancing into lower mortgage payments. Mortgage rates are based on mortgage backed securities (bonds) and change throughout the day. Should the trade tensions ease, we will likely see mortgage rates quickly bounce back up… not that they were “high” before… they just weren’t this LOW!

So…if you would like to drop your mortgage payment, you need to be able to LOCK in the current low interest rates. That means starting a loan application or getting a detailed rate quote scenario to see if refinancing makes sense.

If your home is located anywhere in Washington state, where I’m licensed, I am happy to help you with your refi or home purchase.

30 Year Fixed Mortgage Rate nears Two Year Low

Freddie Mac’s headline today from their PMMS (Primary Mortgage Market Survey) announced the mortgage rates are near two year lows.

The low rates are largely due to the ongoing trade wars. Should things simmer down, we could see mortgage rates return to a more “normal” range… in the meantime, savvy home owners are taking advantage of this opportunity to refinance into a lower mortgage rate.

It’s not just home owners who are benefiting from the current low mortgage rates. Home buyers are able to lock in a lower mortgage payment or qualify for a higher loan amount thanks to the the historically low mortgage interest rates.

If you are considering or considering refinancing a home in Renton, Redmond, Ravensdale or anywhere in Washington state, where I am licensed, I am happy to help you! Click here for a no hassle mortgage rate quote for your personal scenario for your Washington home.

It could be time to refi!

Mwordswag_1559588346141ortgage rates for a 30 year fixed conventional mortgage are back to very low levels. This is largely due to current global concerns which may create a opportunity of opportunity for those who may benefit from a refinance.

It may make sense for you to refi if: [Read more…]

Mortgage Rates trending higher

Freddie Mac’s weekly mortgage rate report (PMMS) based on a survey of mortgage interest rates from applications last week show that mortgage rates continued to move higher.

20190425pmms

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Mortgage Rates Continue Lower

Freddie Mac’s PMMS report released this morning reveals mortgage rates continued to move lower for the third consecutive week. According to this report, mortgage interest rates are at their lowest in (just barely) over a year.

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Mortgage Rates Drop to Lowest in 10 Months!

Freddie Mac reports that mortgage interest rates are at 10 month lows in today’s Prime Market Mortgage Survey.

The Prime Mortgage Market Survey is based on an average of conforming mortgage rates from last week. If you would like to have a current mortgage rate quote based on your personal criteria for your home located anywhere in Washington state, please contact me! I’m happy to provide you with a no-hassle mortgage rate quote.

Lowest Mortgage Rates of the Year!

Freddie Mac’s Prime Mortgage Market Survey reveals mortgage rates are at very low levels.

The low rates are due to the volatility taking place in the stock market. Sam Khater, Chief Economist states, “it will be interesting to see how the recent turmoil in the stock market will affect home buying activity in the coming months.” [Read more…]

Market Volatility and Lower Mortgage Rates

Freddie Mac’s PMMS report shows that mortgage interest rates have dropped this week largely due to the market volatility with the on again off again trade war with China.

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