What May Impact Mortgage Rates this Week: December 29, 2014

mortgageporter-economyThe last week of 2014 is here. It’s another short week with the New Year holiday and so we may be dealing with traders on vacations, which can translate to lighter volumes and/or more volatility. Markets and financial offices (including ours) will be closed on Thursday, January 1, 2015 to celebrate the New Year.

Here are some of the economic indicators scheduled to be released this week that may impact the direction of mortgage interest rates:

  • Tuesday, December 30: S&P Case-Shiller Home Price Index; Consumer Confidence
  • Wednesday, December 31: Initial Jobless Claims; Chicago PMI; Pending Home Sales
  • Thursday, January 1: HAPPY NEW YEAR!
  • Friday, January 2: ISM Index

Mortgage rates are still extremely low. However, they will cost you a bit more in fee compared to last week’s mortgage rate post. As I write this, December 29, 2014 at 8:00 am, I’m quoting:

30 year fixed: 3.875% (apr 3.995%) priced with 0.807 points with  a principal and interest (p&i) payment (taxes and insurance not included) of $1,881.

30 year fixed: 4.000% (apr 4.068%) priced with 0.180 points with p&i of $1,910.

20 year fixed: 3.625% (apr 3.842%) priced with 1.265 points with p&i of $2,346.

20 year fixed: 3.750% (apr 3.871%) priced with 0.423 points with p&i of $2,372.

15 year fixed: 3.000% (apr 3.274%) priced with 1.283 points with p& of $2.763.

15 year fixed: 3.125% (apr 3.323%) priced with 0.756 points with p&i of $2,787.

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 February 5, 2015 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.


  1. […] rates are improved compared to last week’s mortgage rate post. As I write this, January 5, 2015 at 9:00 am, I’m […]

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