Archives for August 2015

What May Impact Mortgage Rates this Week: August 31, 2015

MortgagePorter-JobsReportMortgage rates have been bouncing around following the volatile stock market. This week watch for the Jobs Report to be released on Friday.

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

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What is an escrow holdback?

mortgageporterhouseSometimes an appraiser may call for repairs to be done on a home typically for safety reasons. In a seller’s market, like the greater Seattle area is experiencing, it’s not likely that the seller will agree to make the repairs. If the buyer has enough funds, they may be able to do an “escrow holdback”.  An “escrow holdback” is when funds are heldback at closing to cover the estimated cost of the repairs. The buyer brings the amount of the holdback to escrow (or sometimes the lender) and the funds are held until after closing, when the work has been finished.

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What May Impact Mortgage Rates this Week: August 24, 2015

mortgageporter-economyMortgage rates are bouncing around this morning with the volatility in the markets largely due to an 8% drop in China’s market and dropping oil prices.  This morning, the Dow was down over 1,000 points and is now (8:53 am) down about 247. It’s been quite a wild day and it’s far from over. Remember, mortgage rates are based on bonds and may change several times a day.

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Freddie Mac reports Mortgage Rates remain under 4

Yesterday, Freddie Mac’s PMMS shared that last weeks average conforming rates continue to be under 4.000%.  Last week, according to Freddie Mac’s survey, the average rate for a 30 year fixed conforming (FRM) mortgage was 3.93% priced with 0.6 points.


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What May Impact Mortgage Rates this Week: August 10, 2015 – Mortgage Rates trend LOWER

seatac_airportMy apologies for not getting this post published on Monday, as I typically do. On Monday, I dropped my son off at the airport for him to begin the next chapter of his life with his first “real job” in a new city (to him), Nashville. As I know I’ve mentioned before, I am so very proud of him.

This week the economic calendar is fairly light. Mortgage rates have been getting a boost from China revolving from the issues with their currency. When there are world issues, investors will trade the faster profits (hopefully) found in stocks for the safety with bonds, like mortgage backed securities.

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What May Impact Mortgage Interest Rates this Week: August 3, 2015

MortgagePorter-JobsReportIt’s the first week of the month and that typically brings us the Jobs Report on Friday morning. It is anticipated that 227,000 new jobs were added last month…we’ll see Friday if the numbers come in as anticipated. The Jobs Report is not just about how many jobs were added to the economy, it also reflects wages. Data that indicates potential inflation may cause mortgage rates to deteriorate.

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