We begin this week with celebrating Memorial Day, to remember and thank our Veterans and their families for their sacrifices when serving our country.
Here are some of the economic indicators scheduled to be released this week:
Monday, May 26: Memorial Day
Tuesday, May 27: Durable Goods Orders; S&P/Case-Shiller Home Price Index; Consumer Confidence
Thursday, May 29: GDP Chain Deflator; Gross Domestic Product (GDP); Initial Jobless Claims; Pending Home Sales
Friday, May 30: Personal Consumption Expenditures and Core CPE; Chicago PMI; Consumer Sentiment (UoM).
Mortgage rates continue to trend lower – Freddie Mac reported last week that mortgage rates are at seven month lows.
Here’s an example of rates I’m quoting this morning as of 8:00 am based on a purchase in greater Seattle closing by July 3, 2014 or sooner with a sales price of $500,000 and 20% down payment, conventional loan amount of $400,000. Home buyers have excellent credit with scores of 740 or higher.
- 30 year fixed: 4.000% priced with 1.333 points (apr 4.171%).
- 30 year fixed: 4.125% priced with 0.275 points (apr 4.207%).
- 15 year fixed: 3.125% priced with 0.802 points (apr 3.339%).
- 15 year fixed: 3.250% priced with 0.353 points (apr 3.399%).
Remember, rates change constantly and very well may have changed by the time I publish or you read this post. If you would like me to provide you with a written quote with current mortgage rates based on your scenario for a home located anywhere in Washington state, please contact me.
[…] Mortgage rates are still at very low levels. This week’s quote is about 0.125% higher than what I quoted two weeks ago. […]