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.

 

What May Impact Mortgage Rates this week: May 4, 2015

MortgagePorter-JobsReportMortgage interest rates have been trending higher over the last week. Rates are still very low in the 3’s, however it wouldn’t take much to see the 30 year move into the 4% range.  This Friday, we’ll have the Jobs Report which tends to impact mortgage rates for better or worse.

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

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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 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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What May Impact Mortgage Rates this Week: January 5, 2015 [Mortgage Rate Post: rates trending lower]

Seattle_fireworksHappy 2015! Mortgage rates are kicking off the new year trending lower with more troubles from the Euro-zone. This week is packed with economic indicators which may impact the direction of mortgage interest rates. If one of your New Year resolutions is to save money, now is a great time to look at refinancing to reduce your monthly mortgage payment and create more cash flow to pay off debts or help fund your retirement. Click here if your home is in Washington state and you would like me to help review your current scenario.

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What May Impact Mortgage Rates this Week: December 8, 2014

mortgageporter-economyMortgage rates trended higher on Friday following the much stronger than expected Jobs Report which even included positive revisions for the two previous months. Weak economic news coming from Europe and China are helping bonds (like mortgage backed securities) improve this morning. Mortgage rates continue to be around 18 month lows so this could be a good time to review your current mortgage to see if refinancing makes sense. You can start the new year off with a lower mortgage payment and more money in your pockets!

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What May Impact Mortgage Rates this Week: November 3, 2014

MortgagePorter-JobsReportBlack Knight Financial Services says at least 7.4 million mortgages should refinance, due to where rates are today and looking at borrowers with current notes at 4.5% and above. This may also be a good time to refi into a conventional mortgage if you have an FHA mortgage with a rate in 3% range with expensive FHA mortgage insurance.

Last week the Fed formally wrapped up their aggressive buying of mortgage backed securities (QE) which helped to keep mortgage rates at such a low level over the past couple of years. This was not a surprise to the markets as the Fed had continuously reiterated their plans to end QE in October. Mortgage rates seem to be slowly trending higher.

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