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

It’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.

Elsewhere in the world, the Greek stock market has reopened today after being closed for 5 weeks. Uncertainty in global markets tends to help keep mortgage rates at lower levels.

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

• Monday, August 3: Personal Consumption Expenditure (PCE) and Core PCE; ISM Index
• Wednesday, August 5: ADP National Employment Report; ISM Services Index
• Thursday, August 6: Initial Jobless Claims
• Friday, August 7: Jobs Report

Pricing has improved compared to what I published last week. As I write this post, August 3, 2015 at 10:00 am, I’m quoting:

EDITORS NOTE: Pricing quoted below is expired! For a current mortgage rate quote for your property located anywhere in Washington state, please click here.

• 30 year fixed: 3.875% (apr 4.005%) priced with 0.961 points with principal and interest (p&i) of $1,880.95
• 20 year fixed: 3.750% (apr 3.878%) priced with 0.516 points with p&i of $2,371.55.
• 15 year fixed: 3.125% (apr 3.376%) priced with 1.149 points with p&i of $2,786.44.

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 September 10, 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.