What May Impact Mortgage Rates this Week: August 5, 2013

We have a very light calendar this week with only two scheduled economic indicators being released.

  • Monday, August 5: ISM Services Index
  • Thursday, August 8: Initial Jobless Claims

Don’t let this light calendar lull you into thinking it’s going to be a calm week for mortgage rates. With summer time in full swing and lighter volumes due to traders enjoying a summer vacation, we may see volatility with the direction of mortgage rates.

As of the publishing of this post, 8:00 am on August 5, 2013, For a 30 year fixed conforming rate, I’m quoting:

  • 4.375% (apr 4.562%) priced with 1.339 discount points. NOTE: We do not charge an origination point.
  • 4.500% (apr 4.619%) priced with 0.549 discount points.
  • 4.725% (apr 4.698%) priced with 0.382% rebate credit (to be applied towards closing cost).

The above rate is based on a sales price of $500,000 with 20% down payment and credit scores of 740 or higher on a detached single family dwelling in greater Seattle closing by September 7, 2013.

Remember, rates change constantly and may have changed by the time I’ve  published this post. For your personal rate quote for a refinance or home purchase located any where in Washington state, click here.

Compared to rates I posted last Monday, rates are essentially the same.

I’m not just a mortgage blogger. If I can help you with your mortgage needs for your  purchase or refi, please contact me!

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