Mortgage rates at 2 year highs

Mortgage rates continue to trend higher as confirmed by Freddie Mac’s weekly Prime Mortgage Market Survey released this morning.

2016-12-08-pmms

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Mortgage rates continue to climb higher

Freddie Mac released their Prime Mortgage Market Survey (PMMS) this morning showing rates continuing to move higher.

2016-12-01-pmms
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Mortgage rates “spike” following the election

The graph from this morning’s PMMS report illustrates the dramatic jump in mortgage rates that happened following last week’s Presidential election. Mortgage rates, although still low, haven’t been in this range since January 2016.

2016-11-17-pmms

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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 remain near “Record Lows”

Freddie Mac released the Prime Mortgage Market Survey (PMMS) this morning which is based on a survey average of conforming mortgage rates from last week.

2016-10-27-pmms

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Freddie Mac PMMS reports mortgage rates at a 10 week low

Today Freddie Mac released their Prime Mortgage Market Survey which reports average conforming mortgage rates from last week.

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From Freddie Mac Chief Economist, Stan Becketti:

“Investors flocked to the safety of government bonds causing the 10-year Treasury yield to continue its descent following the FOMC’s decision to leave rates unchanged. The 30-year fixed-rate mortgage responded by dropping 6 basis points before landing at 3.42 percent — a ten-week low. The course of the economy is uncertain, yet consumers continue to be a bright spot. The September consumer confidence index is up 3 percent to 104.1, exceeding forecasts and reaching a new cycle high.”

So if you’ve been sitting on the fence, contemplating a refinance – there’s no time like right now.

If your home is located anywhere in Washington state, where I’m licensed, I’m happy to help you. 🙂

 

Mortgage rates remain low following the Jobs Report

This morning the August Jobs Report came in with slightly weaker data than expected with only 151k non-farm payroll jobs added.

Yesterday, Freddie Mac released their PMMS report showing the 30 year fixed conventional rate still hanging around (just below) 3.500%.

2016 09 01 pmms

If you’ve been contemplating refinancing, it could be time to get off your duff! If your home is located anywhere in Washington state, I’m happy to help you. Click here for a no-hassle mortgage rate quote.

PS: Our office will be closed on Monday for Labor Day. I hope you have a wonderful holiday weekend!

Friday Flashback: Mortgage Rates from 15 years ago

My husband and I have been cleaning out the garage and I came across an old mortgage rate sheet from August 2001. Mortgage rates were a bit higher 15 years ago. If you paid a 1% discount point, your rate for a 30 year fixed would have been 6.500% on a 30 day lock.

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