Mortgage Rates trending higher after the Jobs Report

MortgagePorter-JobsReportThis morning’s Jobs Report came in much stronger than expected with 271,o00 new jobs added in October vs the 181,000 anticipated. Positive revisions were made for August and July. The unemployment rate remains at 5% and hourly wages saw their biggest year over year increase since 2009.

All this good news is not so good for mortgage interest rates. While it’s great for more jobs, less unemployment and higher wages, it translates to wage inflation. Inflation is the arch enemy of bonds and mortgage backed securities (bonds) are what mortgage rates are based on.

The strong Jobs Report also increases the odds of the Fed increasing the Fed Funds rate in December.

[Read more…]

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.

[Read more…]

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:

[Read more…]

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.

[Read more…]

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:

[Read more…]

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…

[Read more…]

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.

[Read more…]

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!

[Read more…]