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

If you were preapproved for a mortgage a month or two ago, you may want to reach out to your mortgage professional to review what your preapproval looks like now with the higher mortgage rates. Home buyers are qualified based on what the total mortgage payment is and how much down payment they will be using. It’s possible that some home buyers may qualify for less loan amount with the higher rates.

Next week, the FOMC meets and odds are they will raise the Fed funds rate.

If I can help you with your mortgage needs for buying or refinancing a home located any where in Washington state, where I’m licensed, please contact me! Click here for a no-hassle mortgage rate quote.

 

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…]

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.

pmms-sept-29-2016

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!

Mortgage rates trending higher (still very low)

Freddie Mac’s PMMS report was released this morning showing that mortgage rates are trending higher from the 3 year lows.

2016 June 2 Freddie Mac PMMS

The Prime Mortgage Market Survey is based on an average of last week’s conforming rates and reports that the 30 year fixed rate averaged 3.66 with 0.5 points for the week ending June 2, 2016. [Read more…]

Mortgage Rates are LOW!! It’s time to refi…again!

Going Down Arrow Mortgage rates have been very low the past couple of days creating a flurry of refinances.

Just how low? Try 3.500% for a 30 year fixed conventional mortgage (apr 3.652%) priced with 1.152 points.

And how about 2.750% for a 15 year fixed conventional mortgage (apr 3.022%) priced with 1.199 points.

Rates quoted above are as of May 6, 2016 as of 12:30 pm PST and are subject to change at any time and are subject to credit approval. Click here for your no hassle mortgage rate quote for homes located anywhere in Washington state.

[Read more…]

Mortgage interest rates lowest in 12 months

pmms feb 11 2016
Freddie Mac released their PMMS report yesterday revealing that mortgage rates are at levels we haven’t seen in a year. This is the sixth week in a row that that Prime Market Mortgage Survey has reported rates trending lower. [Read more…]

Freddie Mac PMMS “Lower than expected” Mortgage Rates!

feb 4 pmms
This morning Freddie Mac released their weekly Prime Mortgage Market Survey report with a title that I couldn’t agree with more: “Lower-than-expected mortgage rates offer refinance opportunity“.

[Read more…]