In a few hours, we’ll be able to parse through the minutes from the last Fed meeting on June 19th, which launched mortgage rates (although still low) to the highest they’ve been in two years. Ben Bernanke is scheduled to hold a press conference this afternoon following the release of the minutes.
As I’m writing this post (8:40 am on July 10, 2013) the DOW is down about 19 bps at 15,281 and I’m quoting: 4.625% (apr 4.739%) priced with 0.471 points based on credit scores of 740 or higher with a sales price of $500,000 and 20% down payment for a purchase in greater Seattle closing by August 16, 2013. This is an improvement of about a half point in fee from what I quoted on Monday.
Stay tuned…we’ll see if and how the Fed’s minutes impact rates today.
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