What May Impact Mortgage Rates this Week: July 6, 2015

My apologies for being tardy on a post I typically do on Mondays… it’s been a busy week and well, my business (helping people with their mortgage needs to buy or refinance their homes) has to come before blogging.

Anyhow, mortgage rates this week have been largely impacted by the drama going on with Greece. Once we see Greece’s situation resolved, we will probably see mortgage rates blip higher. This week’s economic calendar is pretty light – causing mortgage rates to take their cue from the stock markets and Greece.

Here are some of the economic indicators scheduled to be released this week:

• Monday, July 6: ISM Services Index
• Wednesday, July 6: June FOMC Minutes
• Thursday, July 9: Initial Jobless Claims

Yep…that’s it!

Mortgage rates are improved compared to last week’s rate post. As I write this, Wednesday, July 8, 2015 at 9:35 am, I’m quoting:

• 30 year fixed: 3.875% (apr 4.043%) priced with 1.405 points with principal and interest (p&i) of $1,880.95.
• 30 year fixed: 4.000% (apr 4.093%) priced with 0.509 points with p&i of $1,909.66.
• 20 year fixed: 3.750% (apr 3.923%) priced with 0.901 points with p&i of $2,371.55.
• 15 year fixed: 3.250% (apr 3.451%) priced with 0.801 points with p&i of $2,810.68.

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 August 14, 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.