And the Fed said… [LIVE MORTGAGE RATE POST]

20140504_210758Mortgage rates are pretty much unchanged following yesterday’s sell off in the bond market causing rates to trend higher. Today at 11:00 am Seattle time, the Fed will release the minutes from the last FOMC meeting. This tends to influence mortgage rates so I thought it would be interesting to do a live rate mortgage rate post. You can follow me on Twitter @mortgageporter to see when I’ve updated this post.

Rates quoted below will be based on a sales price of $500,000 with 20% down payment, loan amount of $400,000. Borrowers have credit scores of 740 or higher. Rates quoted are subject to credit approval and may change at anytime. If I can provide you with a mortgage rate quote, click here.

[Read more…]

What May Impact Mortgage Rates this Week: January 5, 2015 [Mortgage Rate Post: rates trending lower]

Seattle_fireworksHappy 2015! Mortgage rates are kicking off the new year trending lower with more troubles from the Euro-zone. This week is packed with economic indicators which may impact the direction of mortgage interest rates. If one of your New Year resolutions is to save money, now is a great time to look at refinancing to reduce your monthly mortgage payment and create more cash flow to pay off debts or help fund your retirement. Click here if your home is in Washington state and you would like me to help review your current scenario.

[Read more…]

Last FOMC Meeting of 2014 and how it impacts mortgage rates [LIVE POST]

20140504_210758Today the Fed will wrap up their 2 day meeting around 11:00 am PST. All ears will be anxiously awaiting any clues as to what their policy will be in 2015.

It’s interesting to see how the markets react to “Fed Day” so I thought I’d do a “live post” today, updating this throughout the day with current mortgage rates.

[Read more…]

What May Impact Mortgage Rates this week: December 15, 2014 – Mortgage rates IMPROVED

mortgageporter-economyLast week, rates bumped along 14 months lows. Those who were in position to lock with a mortgage application started, were able to secure low rates so they will be able to benefit from lower mortgage payments in the New Year. Before a lender locks in an interest rate, they need to have a complete application, including a credit report, so they know how to price the rate (low mid-credit scores are used) and if you actually qualify for the refi. It takes about 20 – 30 minutes to complete an on-line application, so if you are toying with refinancing right now, I highly recommend you contact your local lender (I can help you if your home is located in Washington state) so that you can be ready to lock in a very low mortgage rate.

[Read more…]

What May Impact Mortgage Rates this Week: November 17, 2014

mortgageporter-economyThis morning, Japan announced their GDP (gross domestic product) continues to decline, giving US mortgage bonds a slight boost.  This week has a lot of economic indicators scheduled to be released that could impact the direction of mortgage rates. Keep an eye out for data that reveals inflation, as that will cause mortgage rates to trend higher.

Currently mortgage rates are continuing to improve (see below) compared to last week’s mortgage rate post.

[Read more…]

What the Fed Said

20140504_210758In a nutshell, the Fed will no longer be manipulating mortgage rates at artificially low levels. As I write this, I’m receiving intraday rate sheets from some lenders with pricing for the worse.

This is from the Fed’s Press Release:

[Read more…]

What May Impact Mortgage Rates this Week: October 27, 2014

10584108_10152349540866046_1789571015476639111_nWill this week bring tricks or treats with mortgage rates? The stage is set to be another volatile week for mortgage rates with scheduled economic events/indicators. The Fed is expected to retire QE3 this week, in which they were buying bonds and treasuries to keep mortgage interest rates at artificial low levels.  In addition, the economic issues taking place in Europe and other uncertainties in the world, just adds to the drama we may see play out with mortgage rates.

[Read more…]

What the Fed Says and How It Impacts Mortgage Rates [LIVE POST]

I am going to attempt to write a “live post” today to illustrate how mortgage rates may change based on data that is released throughout the day and market reactions. Please keep in mind that despite my best efforts, sometimes a “live post” can be a bit challenging…we’ll give it a try!

[Read more…]