This morning, Japan announced their GDP (gross domestic product) continues to decline, giving US mortgage bonds a slight boost. This week has a lot of economic indicators scheduled to be released that could impact the direction of mortgage rates. Keep an eye out for data that reveals inflation, as that will cause mortgage rates to trend higher.
Currently mortgage rates are continuing to improve (see below) compared to last week’s mortgage rate post.
Here are some of the economic indicators scheduled to be released this week:
Monday, November 17: Empire State Index
Tuesday, November 18: Producer Price Index (PPI); and Housing Market Index
Wednesday, November 19: Building Permits; Housing Starts; and FOMC Minutes
Thursday, November 20: Consumer Price Index (CPI); Initial Jobless Claims; Existing Home Sales; and Philadelphia Fed Index
Mortgage rates are improved compared to last week’s rate post. As I write this, 2:30 pm on November 17, 2014, I’m quoting:
30 year fixed: 3.875% (apr 4.013%) priced with 1.092 points with a principal and interest (p&i) payment (taxes and insurance not included) of $1,881.
30 year fixed: 4.000% (apr 4.086%) priced with 0.459 points with p&i of $1,910.
20 year fixed: 3.750% (apr 3.858%) priced with 0.384 points with p&i of $2,372.
15 year fixed: 3.125% (apr 3.351%) priced with 0.989 points with p&i of $2,786.
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 and a loan amount of $400,000. The home buyers have excellent credit with credit scores of 740 or higher and the transaction is closing by December 24, 2014 or sooner.
Rates quoted are subject to credit approval and may change at any time. This is just a small sample of the mortgage rates and programs that I have available. If you would like me to provide you with a mortgage rate quote for your home purchase or refinance on your home located anywhere in Washington state, please click here.
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