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.

Here are some of the economic indicators scheduled for this week:

  • Monday, July 28: Pending Home Sales
  • Tuesday, July 29: S&P/Case Shiller Home Price Index; Consumer Confidence
  • Wednesday, July 30: ADP National Employment Report; Gross Domestic Product; FOMC Meeting
  • Thursday, July 31: Initial Jobless Claims; Employment Cost Index; Chicago PMI
  • Friday, August 1: The Jobs Report; ISM Index; Consumer Sentiment

As I write this post, 7:30 am on July 28, 2014, I’m quoting:

  • 30 year fixed conventional: 4.125% (apr 4.273%) priced with 1.176 points. This is an increase of 0.266 in points from last week’s rate post – putting the pricing pretty darn close to where it was 2 weeks ago.
  • 15 year fixed conventional: 3.250% (apr 3.464%) priced with 0.927 points. This is essentially the same as last week’s rate post (improved by 0.028 points).

The rates quoted above are based on a purchase in the greater Seattle area with a sales price of $500,000, 20% down payment and a loan amount of $400,000 closing by September 4, 2014 or sooner. The home buyers have excellent credit scores of 740 or higher.

Rates are subject to credit approval and may (will) change at anytime. This is just a very small sample of rates and programs that I have available. Please click here if you would like me to provide you with a rate quote. If you are interested in refinancing or buying a home located in Des Moines, Davenport, DuPont or anywhere in Washington state, please contact me – I’m happy to work with you as your Licensed Loan Originator.

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.

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What May Impact Mortgage Rates this Week: April 21, 2014

mortgageporter-economyThis week’s economic calendar appears to be a little on the light side. There are no economic indicators due today. Here are the economic indicators scheduled to be released this week:

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

mortgageporter-economyThis week’s calendar may seem on the lighter side with regards to economic indicators scheduled to be released. There are no economic indicator scheduled to be released this week. On Wednesday, the FOMC Minutes are scheduled to be released and this probably has the potential to influence the direction of mortgage interest rates. Remember, mortgage rates are based on bonds (mortgage backed securities) and often move in the opposite direction of stocks.

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What May Impact Mortgage Rates this Week: March 24, 2014

mortgageporter-economyMortgage rates are based on bonds (mortgage backed securities) and often fluctuate throughout the day depending on activity in the markets. Often times when the stock market is taking a hit, we’ll see mortgage rates improve as investors will trade seek the safety of bonds. World events, like what is taking place in Crimea, may impact mortgage rates,  as will the Fed’s bond buying program and economic data that is scheduled to be released. Here are some of the economic indicators scheduled to be released this week:

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What may impact mortgage rates this week: November 18, 2013

mortgageporter-economyLast week mortgage interest rates improved thanks to Janet Yellen indicating at her confirmation hearing that as our next Fed head, she will continue on with QE and support the Fed’s actions of buying mortgage backed  securities to keep mortgage interest rates artificially low. This was sweet news to the markets and we’re still seeing lower mortgage rates this morning.

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What May Impact Mortgage Rates this Week: November 4, 2013

MortgagePorter-JobsReportMortgage rates continue to be at very low levels. Although they’re not at the lows from May, Freddie Mac’s Mortgage Market Survey reports that mortgage rates have been trending lower for the last four months. If you missed the refi-boat a few months ago, this may be your second chance. You may want to contact a local licensed mortgage professional for an updated mortgage rate quote (if your home is located anywhere in Washington state, I’m happy to help you).

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What May Impact Mortgage Rates this Week: September 9, 2013

mortgageporter-economyThis week’s calendar appears to be on the light side. Mortgage rates will be taking ques from the from stocks. All eyes will be on Congress with their vote on whether or not to be taking action against Syria.

The Treasury will start selling $65 billion in notes and bonds on Tuesday, which may also impact rates.

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

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