Mortgage Rate Update for the week of December 3, 2012

Not everything that impacts mortgage rates are scheduled economic indicators, like what I’m sharing with you below in this post. Sometimes Congress tacks on fees that are priced into interest interest rates too. For example, the House of Representatives just passed a new “G-Fee” to help fund an Immigration Bill, HR 1629. This “G-Fee” will impact new Fannie Mae and Freddie Mac mortgages. Why new home buyers and people refinancing have to pay for this bill which does not relate to mortgages during a time housing is trying to recover puzzles me. Click here to see how your House Rep voted on this bill.

Anyhow… here are a few of the economic indicators scheduled to be released this week that may impact mortgage rates:

Monday, December 3: ISM Index

Wednesday, December 5: ADP National Employment Report; Productivity; ISM Services Index

Thursday, December 6: Initial Jobless Claims

Friday, December 7: THE JOBS REPORT

Stay tuned!

PS: If I can provide you with a mortgage rate quote for your Washington state home (refi or purchase), click here.