What may impact mortgage rates this week: August 26, 2013

Mortgage rates are not just influenced by scheduled economic indicators. Sometimes uncertainty in the world, such as what’s going on in Syria, will cause a flight to safety with investors seeking bonds, like mortgage backed securities. This is causing mortgage rates, which are based on mortgage backed securities, to be improved this morning.

Here are a few of the economic indicators scheduled to be released this week:

  • Monday, August 26: Durable Goods Orders
  • Tuesday, August 27: S&P/Case-Shiller Home Price Index and  Consumer Confidence
  • Wednesday, August 28: Pending Home Sales
  • Thursday, August 29: Gross Domestic Product (GDP) and Initial Jobless Claims
  • Friday, August 30: Personal Spending; Personal Consumption Expenditures and Core PCE; Personal Income; Consumer Sentiment Index (UoM); and Chicago PMI

And let us not forget that we’re coming up on Labor Day! Our office will be closed on Monday, September 2, 2013 and reopening for business as usual on Tuesday, September 3, 2013.

As I publish this post, August 27, 2013 at 10:00 am, I’m quoting:

4.500% (apr 4.656 %) priced with 0.966 points

4.625% (apr 4.707%) priced with 0.108 points.

The above quotes are based on a sales price of $500,000 with 20% down payment for a 30 year fixed conventional mortgage for home buyers in the greater Seattle area with credit scores of 740 or higher closing by October 4, 2013.

Remember rates change often and may have changed, for better or worse, by the time I publish this post. For your personal rate quote for a home located anywhere in Washington state, click here.







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