What May Impact Mortgage Rates this week: August 4, 2014

I hope you’re enjoying your summer. Can you believe that it’s already August? Tomorrow, August 5, 2014, is Seattle Night Out (actually, National Night Out) and many neighborhoods will be getting to know each better over block parties and/or pot luck dinners during this annual crime prevention event. This is a great excuse to get to know your neighbors better so if you don’t have anything planned tomorrow, why not knock on a few doors and have an impromptu pot luck? 🙂

Photo: Our puppy, Hitch, having fun with one of his neighbors, Sadie.

And now back to mortgage rates!

Compared to last week, this is going to seem like a snoozer with not much scheduled on the economic calendar. There is no data scheduled to be released today.

• Tuesday, August 5: ISM Index
• Thursday, August 7: Initial Jobless Claims
• Friday, August 8: Productivity

Mortgage rates are essentially unchanged compared to last Monday’s rate post… however, don’t let that kid you – mortgage rates were a bit volatile last week heading up to the Jobs Report.  As I write this post, August 4, 2015 at 8:00 am, I’m quoting:

UPDATE: The rates below are expired. Click here if you would like me to provide you with a current mortgage rate quote for your Washington home.

• 30 Year Fixed: 4.125% (apr 4.274%) priced with 1.182 points (an increase of 0.006 in points compared to last week’s rate post).
• 15 Year Fixed: 3.250% (apr 3.446%) priced with 0.941 points (a decrease of 0.014 in points compared to last week’s rate post).

The rates quoted above are based on a purchase in the greater Seattle – King County area with a sales price of $500,000, 20% down payment with a conventional loan of $400,000 closing by September 11, 2014 or sooner.  The home buyers have excellent credit scores of 740 or higher.

Rates are subject to credit approval and may change at any time. This is just a very small sample of rates and programs that I have available. I am happy to provide you with a detailed rate quote or help you with your refi or purchase of your home located in Alki, Anacortes, Auburn or anywhere in Washington state.

PS: I will be teaching a home buyers class this Saturday, August 9, 2014 at the Skyway Library. RSVP for home buyer classes that I’m teaching by clicking here.