What May Impact Mortgage Rates this Week: October 19, 2015 – MORTGAGE RATES MOVE LOWER

This week, there isn’t a lot scheduled as far as economic indicators. Overall, mortgage rates are trending lower compared to my last rate post two weeks ago. Here are the economic indicators scheduled to be released this week:

• Monday, October 19: Housing Market Index
• Tuesday, October 20: Building Permits; Housing Starts
• Thursday, October 21: Initial Jobless Claims; Existing Home Sales

Mortgage rates are improved compared to last week’s rate post. As I write this, 3:20 pm on Monday, October 19, 2015, I’m quoting:

EDITORS NOTE: Rates quoted below are expired. For a current mortgage rate quote, please click here.

• 30 year fixed: 3.625% (apr 3.779%) priced with 1.152 points with principal and interest (p&i) of $1,824.21.
• 30 year fixed: 3.750% (apr 3.832%) priced with 0.279 points/rebate credit with p&i of $1,852.42.
• 20 year fixed: 3.500% (apr 3.656%) priced with 0.654 points with p&i of $2,319.84.
• 15 year fixed: 3.000% (apr 3.209%) priced with 0.751 points with p&i of $2,762.33.

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 November 12, 2015 or sooner.

Rates quoted are subject to credit approval and may change at any time. Payments quoted above do not include property taxes or insurance and are principal and interest only. 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.