What May Impact Mortgage Rates this Week: October 20, 2014 – LOWER RATES

mortgageporter-economyLast week, when mortgage rates for the 30 year fixed dipped below 4%, we saw many home owners jumping at the chance to refinance. Mortgage interest rates were very volatile last week, following the roller coaster ride of the stock market. It was reported we had about 10 different price changes in just one day. The only way you can make sure that you lock in a low rate is to…well…lock it! :) This basically means that you have provided the lender with an application and have decided on your mortgage program.

[Read more...]

What May Impact Mortgage Rates this Week: October 6, 2014

1522456_717971534888096_812580490_oLast Friday’s Jobs Report came in better than expected and mortgage rates ticked up a little higher on Friday but are still in a tight range and essentially unchanged compared to last Monday’s rate post (slightly improved). There’s not a lot on the dance card this week for scheduled events that may impact the direction of mortgage interest rates this week. Watch for the Fed Minutes on Wednesday, which has stronger odds of moving mortgage rates. Since this week’s calendar is so light, I’m adding a couple items that will not impact rates…but are eventful!

[Read more...]

What May Impact Mortgage Rates this Week: September 29, 2014

MortgagePorter-JobsReportThis week is packed with economic data that may influence the direction of mortgage rates wrapping up with the Jobs Report on Friday. Mortgage rates will also react to world tensions, such as what’s taking place in the Middle East. This is because mortgage rates are based on bonds (mortgage backed securities) and investors often seek the safety of bonds over the potentially higher return found with stocks. Stocks are taking a hit this morning and mortgage backed securities are improved.Here are some of the economic indicators that are scheduled to be released this week:

[Read more...]

What May Impact Mortgage Rates this Week: September 22, 2014.

10590595_10152292265616046_3172341462878606042_nHappy first day of fall! Mortgage rates continue to be in a fairly tight range and are slightly improved compared to last Monday’s rate post.

Here’s a short  list of economic indicators that may impact the direction of mortgage rates this week:

[Read more...]

What May Impact Mortgage Rates this Week: July 28, 2014

MortgagePorter-JobsReportThis week is packed full of economic indicators that may influence mortgage interest rates, including the Fed meeting on Wednesday and Jobs Report on Friday. The Jobs Report carries a lot of weight with mortgage rates as it may indicate inflation. As the economy and employment improves, we may see signs of wage inflation. Inflation is the arch enemy of bonds, like mortgage backed securities – which mortgage rates are based on. World tensions may also impact mortgage rates as investors may seek the safety found in bonds.

[Read more...]

What May Impact Mortgage Rates this Week: July 7, 2014

mortgageporter-economyI hope you and your family had a fabulous holiday weekend. We began our holiday on our boat at Liberty Bay in Poulsbo with a beautiful display of fireworks on July 3rd – it was a lot of fun.

[Read more...]

What May Impact Mortgage Rates this Week: June 23, 2014

mortgageporter-economyMortgage rates are based on mortgage backed securities (bonds) and often change throughout the day. Since they are based on bonds, mortgage rates will often improve when the stock markets are deteriorating as investors will trade the safety of bonds for the potential greater return found with stocks. The reverse is also true. World events as well as scheduled economic indicators may impact the direction of mortgage interest rates. Watch for signs of inflation, which erodes the value of bonds and therefore, causes mortgage rates to trend higher.

[Read more...]

What May Impact Mortgage Rates this Week: May 5, 2014

mortgageporter-economyHappy Cinco de Mayo! This week’s calendar is very light, especially when you compare it to the amount of economic data that was released last week. It’s not just economic reports that may move mortgage rates. The stock markets or world events, such as what’s going on with Russia, may impact the direction of mortgage rates. Here are the economic indicators scheduled to be released this week:

[Read more...]