What May Impact Mortgage Rates this Week: February 2, 2015 – Mortgage Rate Post – Rates Continue Lower

It feels like a “Blue Monday” following yesterday’s disappointing loss at SB49. With that said, one thing I am NOT disappointed with is our Seattle Seahawks. What a great season. Thank you Seahawks and thank you fellow 12s! I am looking forward to the Seattle Mariners…and then SB50!  I know this has nothing to do with mortgage rates. 🙂

Back to work…

Mortgage rates have been at extremely low levels with the volatility in the stock market. This week we have the jobs data that tends to be a market mover. Here’s what may impact mortgage rates this week:

• Monday, February 2: Personal Consumption Expenditures (PCE); Personal Spending; Personal Income; ISM Index
• Wednesday, February 4: ADP National Employment Report; ISM Services Index
• Thursday, February 5: Initial Jobless Claims; Productivity
• Friday, February 6: The Jobs Report

Mortgage rates are lower compared to the last time I quoted mortgage rates two weeks ago. As I write this post, 9:00 am on Monday, February 2, 2015, I am quoting:

EDITORS NOTE: Rates quoted below are expired. If you would like a current mortgage rate quote for your Washington state home, click here.

30 year fixed: 3.500% (apr 3.658%) priced with 1.348 points with  a principal and interest (p&i) payment (taxes and insurance not included) of $1,796.

30 year fixed: 3.625% (apr 3.711%) priced with 0.071 rebate credit with p&i of $1,825.

20 year fixed: 3.375% (apr 3.540%) priced with 0.866 points with p&i of $2,295.

20 year fixed: 3.500% (apr 3.600%) priced with 0.288 points with p&i of $2,320.

15 year fixed: 2.875% (apr 3.056%) priced with 0.688 points with p&i of $2,739.

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 March 12, 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.