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

My 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.

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

• Tuesday, August 11: Productivity
• Thursday, August 13: Retail Sales; Initial Jobless Claims
• Friday, August 14: Producer Price Index (PPI); Consumer Sentiment (UoM)

Mortgage rates are lower compared to last week’s mortgage rate post. As I write this, August 12, 2015 at 10:15  am, I’m quoting:

EDITORS NOTE: Mortgage rates posted below are EXPIRED!! If you would like to have current mortgage rates for your Washington state home, please click here.

• 30 year fixed: 3.750% (apr 3.896%) priced with 1.238 points with principal and interest (p&i) of $1,852.46.
• 30 year fixed: 3.875% (apr 3.976%) priced with 0.689 points with p&i of $1,880.9
• 20 year fixed: 3.625% (apr 3.809%) priced with 1.082 points with p&i of $2,345.61.
• 20 year fixed: 3.750% (apr 3.837%) priced with 0.232 points with p&i of $2,371.55.
• 15 year fixed: 3.125% (apr 3.334%) priced with 0.934 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 18, 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.