What May Impact Mortgage Rates the week of July 23, 2012

There are no scheduled economic indicators due to be released today. However, mortgage rates are trending lower this morning due to steepened worries from the Euro-zone, namely Spain and Greece. How could Greece and Spain’s pain cause lower mortgage interest rates? Investors are seeking the safety of bonds, like mortgage backed securities. As I write this post (6:35 PST), the DOW is down about 121 and the Euro has fallen to a two year low.

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

• Wednesday, July 25: New Home Sales
• Thursday, July 26:  Initial Jobless Claims, Durable Goods Orders, Pending Home Sales
• Friday, July 27: Gross Domestic Product (GDP), Auto Sales, Consumer Sentiment Index

If you are interested in refinancing or buying a home (primary, investment or vacation) anywhere in Washington state, I’m happy to help you.