Freddie Mac released their Prime Mortgage Market Survey (PMMS) this morning showing rates continuing to move higher.
Today Freddie Mac released their Prime Mortgage Market Survey which reports average conforming mortgage rates from last week.
“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. 🙂
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%.
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!
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.
Mortgage rates have been bouncing at historic lows following Brexit. Rates could bump higher following the Jobs Report which is scheduled to be released tomorrow morning.
Today’s ADP Report came in with stronger than expected employment data and last month’s Jobs Report came in worse than expected.
My advice? [Read more…]