What May Impact Mortgage Rates this Week: June 29, 2015

MortgagePorter-JobsReportMortgage backed securities are enjoying bump today with Greece back in the headlines. As I’m writing this post (9:25 am pst) the Dow  is down 229. This is a case where a bad news for the stock market = good news for mortgage rates.

On Friday, markets are closed (so is our office) for the holiday, so for the Jobs Report being released on Thursday. Short holiday weeks also tend to create more volatility with mortgage rates (and stocks) as there are often less traders working during a time when folks (traders) are likely to take a longer “holiday” weekend or vacation.

Here are some of the economic indicators scheduled to be released this week:

  • Monday, June 29: Pending Home Sales
  • Tuesday: June 30: S&P/Case-Shiller Home Price Index; Chicago PMI; Consumer Confidence
  • Wednesday, July 1: ADP National Employment Report; ISM Index
  • Thursday, July 2: The Jobs Report; Initial Jobless Claims
  • Friday, July 3: Markets are closed. Happy Independence Day!

I am expecting a reprice for the better at anytime – remember, mortgage rates change constantly. Sometimes several times a day. As I write this, 10:00 am on June 29, 2015, I’m quoting:

  • 30 year fixed: 4.000% (apr 4.132%) priced with 0.970 points with principal and interest (p&i) of $1,909.66.
  • 20 year fixed: 3.875% (apr 4.010%) priced with 0.562 points with p&i of $2,397.66.
  • 15 year fixed: 3.250% (apr 3.492%) priced with 1.075 points with p&i of $2,810.68.

Rates quoted above are based on a purchase in the greater Seattle – King County area with a sales price of $500,000, 20% down payment and a conventional loan amount of $400,000. The home buyers have excellent credit with credit scores of 740 or higher and the transaction is closing by August 6, 2015 or sooner.

Rates quoted are subject to credit approval and may change at any time. This is just a small sample of the mortgage rates and programs that I have available. If you would like me to provide you with a mortgage rate quote for your home purchase or refinance on your home located anywhere in Washington state, please click here.


Freddie Mac reports last week’s average mortgage rates unchanged

The Freddie Mac PMMS reveals little change in mortgage interest rates over the last week with the 30 year mortgage rate averaging 4.02% with 0.7 points.


[Read more…]

Freddie Mac reports mortgage rates trending higher


Freddie Mac released their weekly report on average mortgage rates for last week. From the PMMS Report:

[Read more…]

The Fed says…. [LIVE POST]

20140504_210758Today at around 11:00 am PST, the FOMC will wrap up their two day meeting and announce any changes to the Fed funds rate. Markets will react to the Fed statements regarding their views of our economy impacting their decisions on whether or not to raise the Fed funds rate. It is widely anticipated that there will be no change to the Fed funds rate today.

It’s not unusual to have the Fed meeting impact the direction of mortgage rates…so I thought I’d attempt a “live rate post” to illustrate how mortgage rates can change in a day. Mortgage rates have been trending higher this week. As of 7:52 am this morning, the 30 year fixed rate is higher by about 0.125% in rate or 0.752 in fee compared to what I quoted two days ago on Monday’s post.

[Read more…]

What May Impact Mortgage Rates this Week: April 27, 2015

mortgageporter-economyWe don’t have any economic indicators scheduled to be released today. The rest of the week is packed with data that may influence the direction of mortgage interest rates, including the FOMC meeting that will be wrapping up on Wednesday. No change to the Fed funds rate is expected. Here’s what’s on deck with this week:

[Read more…]

Mortgage interest rates still near historic lows

In a recent blog post, “Mortgage Rates: Still the Deal of the Century”, Freddie Mac shares this graphic illustrating just how low mortgage rates currently are. Obviously I thought this was too good not to share with my readers too.


[Read more…]

What May Impact Mortgage Rates this Week: April 13, 2015

mortgageporter-economyMortgage rates have been bouncing in a fairly tight range. Although we don’t have any economic indicators scheduled to be released today, the rest of this week is packed:

[Read more…]

Freddie Mac Mortgage Survey reports Mortgage Rates Lower

Freddie Mac’s survey of what mortgage lenders reported for conforming rates last week revealed that mortgage interest rates trended lower. You can see based on the chart below that rates have been bouncing in a tight range, remaining below 4%.


[Read more…]