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%.

Freddie_Mac_March_26_2015

From Freddie Mac’s Chief Economist, Len Kiefer:

“The average 30-year fixed mortgage rate fell to 3.69 percent this week following a decline in 10-year Treasury yields. Low mortgage rates are a welcome sign for those in the market to buy a home this spring season and will help to support homebuyer affordability. Existing home sales in February increased slightly, but less than expected, to a seasonally adjusted annual rate of 4.88 million units. Meanwhile, new home sales outperformed expectations and surged 7.8 percent to an annual pace of 539,000 units.”

Non-conforming mortgages (aka jumbo’s) also currently have very low rates. Jumbo loans for a single family dwelling in King, Pierce or Snohomish counties are loan amounts of $517,501 and higher (per 2015 conforming loan limits).

Bottom line, mortgage rates are still at extremely low levels making it a good time to look at refinancing your existing mortgage or possibly buying a home, vacation home or investment property.  If you are considering buying anywhere in Washington state, where I’m licensed, I am happy to help you! Click here for a mortgage rate quote.

What May Impact Mortgage Rates this Week: March 16, 2015 | LIVE Mortgage Rate Post

dundeeMy apologies for being a couple days late on this post which is typically published on Mondays… I had Monday off (it was my birthday) and with taking a day off, I had fun catching up on emails yesterday.

For my birthday, my husband and I went to Pinot country in Oregon – it is absolutely beautiful. If you enjoy pinot noir or crisp white wine, I recommend you check it out!

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What May Impact Mortgage Rates this Week: March 9, 2015

mortgageporter-economyMy apologies for being a day late on my “Monday Rate Post”…I’ve been busy working on transactions in process and new refi and purchase loans. Biz has to come before blog. However, I have a few moments now to share with you the economic indicators scheduled to be released this week, which is on the lighter side.

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What May Impact Mortgage Interest Rates this week: March 2, 2015 – Rates Improved

MortgagePorter-JobsReportThis being the first week of the month, means that Friday, we will have the Jobs Report. Last month, the better than expected Jobs Report sent mortgage rates trending higher.

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

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What May Impact Mortgage Rates this Week: February 23, 2015

mortgageporter-economyThis week is packed full of economic indicators and events that may influence the direction of mortgage interest rates, including Fed Head Janet Yellen’s two day testimony in front of Congress which starts tomorrow. Here’s a list of economic indicators scheduled to be released this week:

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And the Fed said… [LIVE MORTGAGE RATE POST]

20140504_210758Mortgage rates are pretty much unchanged following yesterday’s sell off in the bond market causing rates to trend higher. Today at 11:00 am Seattle time, the Fed will release the minutes from the last FOMC meeting. This tends to influence mortgage rates so I thought it would be interesting to do a live rate mortgage rate post. You can follow me on Twitter @mortgageporter to see when I’ve updated this post.

Rates quoted below will be based on a sales price of $500,000 with 20% down payment, loan amount of $400,000. Borrowers have credit scores of 740 or higher. Rates quoted are subject to credit approval and may change at anytime. If I can provide you with a mortgage rate quote, click here.

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What May Impact Mortgage Rates this Week: February 9, 2015.

mortgageporter-economyThis week’s economic calendar appears to be sparse. Watch for mortgage rates to take direction from the stock market. Often, mortgage rates will react opposite to the stock market as rates are based on mortgage backed securities (bonds). When stocks are having a stellar day, traders will often pull bonds (like mortgage backed securities) to invest in stocks. And when the Dow is dropping, we tend to see mortgage rates improve as investors will seek the safety of bonds.

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What May Impact Mortgage Rates this Week: February 2, 2015 – Mortgage Rate Post – Rates Continue Lower

mmsc 12th manIt feels like a “Blue Monday” following yesterday’s disappointing loss at SB49. With that said, one thing I am NOT disappointed with is our Seattle Seahawks. What a great season. Thank you Seahawks and thank you fellow 12s! I am looking forward to the Seattle Mariners…and then SB50!  I know this has nothing to do with mortgage rates. :)

Back to work…

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