What May Impact Mortgage Rates this Week: April 13, 2015

Mortgage rates have been bouncing in a fairly tight range. Although we don’t have any economic indicators scheduled to be released today, the rest of this week is packed:

• Tuesday, April 14: Producer Price Index (PPI); Retail Sales
• Wednesday, April 15: Empire State Index; Housing Index; Fed Beige Book
• Thursday, April 16: Initial Jobless Claims; Housing Starts; Building Permits; Philadelphia Fed Index
• Friday, April 17: Consumer Price Index (CPI); Consumer Sentiment (UoM)

On Saturday, April 18, 2015, I will be teaching a home buyer class at the Greenwood Library in Seattle. We have just a few spots left. If you would like to learn more about the home buying process, be eligible for down payment assistance and/or mortgage tax credits (MCC), please join us! RSVP here – space is limited.

Mortgage rates for the most part are slightly higher  in fee compared to last week’s mortgage rate post. Check out the difference in pricing an 0.125 in rate with the 30 year and 15 year conventional.  As I write this post, 8:20 am on Monday, April 13, 2015, I’m quoting:

EDITORS NOTE: RATES POSTED BELOW ARE EXPIRED!! For a current rate quote for your home located anywhere in Washington state, please click here.

• 30 year fixed: 3.625% (apr 3.758%) priced with 1.033 points with  a principal and interest (p&i) payment (taxes and insurance not included) of $1,824.21..
• 30 year fixed: 3.750% (apr 3.815%) priced with 0.195 points with p&i of $1,852.46.
• 20 year fixed: 3.500% (apr 3.691%) priced with 1.082 points with p&i of $2,319.84.
• 15 year fixed: 2.875% (apr 3.123%) priced with 1.149 points with p&i of $2,738.34.
• 15 year fixed: 3.000% (apr 3.123%) priced with 0.281 points with p&i of $2,762.33

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 conventional loan amount of $400,000. The home buyers have excellent credit with credit scores of 740 or higher and the transaction is closing by May 21, 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.