What May Impact Mortgage Rates this Week: August 24, 2015

mortgageporter-economyMortgage rates are bouncing around this morning with the volatility in the markets largely due to an 8% drop in China’s market and dropping oil prices.  This morning, the Dow was down over 1,000 points and is now (8:53 am) down about 247. It’s been quite a wild day and it’s far from over. Remember, mortgage rates are based on bonds and may change several times a day.

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

  • Tuesday, August 25: S&P/Case-Shiller Home Price Index; Consumer Confidence; New Home Sales
  • Wednesday, August 26: Durable Goods Orders
  • Thursday, August 27: Gross Domestic Product (GDP); Inital Jobless Claims; Pending Home Sales
  • Friday, August 28: Personal Consumption Expenditures (PCE); Consumer Sentiment Index (UoM)

Mortgage rates are trending lower than what I quoted in my last rate post. As I write this post, August 24, 2015 at 9:15 am, I’m quoting:

  • 30 year fixed: 3.750% (apr 3.848%) priced with 0.660 points with principal and interest (p&i) of $1,852.46
  • 20 year fixed: 3.625% (apr 3.745%) priced with 0.532 points with p&i of $2,345.61.
  • 15 year fixed: 3.000% (apr 3.246%) priced with 1.199 points with p&i of $2,762.33.
  • 15 year fixed: 3.125% (apr 3.281%) priced with 0.578 points with p&i of $2,786.44.

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 October 1, 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.

What May Impact Mortgage Rates this Week: July 27, 2015 – Mortgage Rates trending LOWER!

I’m back from my vacation, sailing the Broughton Islands in Vancouver, B.C. with my hubby and our (almost) 2 year old puppy, Hitch. Thanks to my great team at Mortgage Master for taking care of my clients while I was enjoying some time off. I’m relaxed, refreshed, recharged and ready to help you with your mortgage needs.

The Chinese stock market is taking a hit as the Shanghai Composite lost 8.5% overnight. This is giving mortgage backed securities a bit of a boost this morning. Check out the mortgage rates I’ve posted below.

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What May Impact Mortgage Rates this Week: July 6, 2015

mortgageporter-economyMy apologies for being tardy on a post I typically do on Mondays… it’s been a busy week and well, my business (helping people with their mortgage needs to buy or refinance their homes) has to come before blogging.

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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.

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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.

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Freddie Mac reports mortgage rates trending higher

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

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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.

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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:

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