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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The Narrowing Gap between Jumbo and Conforming Mortgage Rates

Mortgage_Porter_Rates_GapWith conforming mortgage rates trending higher largely due to the end of Fed’s support of keeping mortgage rates at QE artificially sweet low levels, we’re seeing less difference between conforming mortgage rates and non-conforming mortgage rates (aka Jumbo mortgages).  In most Washington state counties, a jumbo mortgage is any loan over $417,000 (for a single family dwelling).  In the greater Seattle area (King, Pierce and Snohomish counties) we have “conforming high balance” mortgages which will allow loan amounts from $417,001 to $506,000 before it’s considered a non-conforming (or jumbo) mortgage. Here’s a link to 2013 Washington State conforming loan limits.

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