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

Mortgage 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:

• Monday, August 31: Chicago PMI
• Tuesday, September 1: ISM Index
• Wednesday, September 2: ADP National Employment Report; Productivity; Beige Book
• Thursday, September 3: Initial Jobless Claims; ISM Services Index
• Friday, September 4: Jobs Report

NOTE: Monday, September 7, 2015 is Labor Day. Our office and Federal offices will be closed to observe this national holiday. Happy Labor Day!

Mortgage rates are still lower, however they are trending higher compared to last week’s mortgage rate post. As I write this, 11:40 am on August, 31, 2015, I’m quoting:

• 30 year fixed: 3.750% (apr 3.900%) priced with 1.291 points with principal and interest (p&i) of $1,852.46
• 30 year fixed: 3.875% (apr 3.975%) priced with 0.673 points with p&i of $1,880.95.
• 20 year fixed: 3.625% (apr 3.813%) priced with 1.118 points with p&i of $2,345.61.
• 15 year fixed: 3.125% (apr 3.336%) priced with 0.954 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 October 8, 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.