What May Impact Mortgage Rates this Week: November 9, 2015

Mortgage rates continue to drift higher as odds increase that the Fed will raise the Funds Rate in December following the stronger than expected Jobs Report on Friday. As of 9:04 this morning, the Dow is down 239 at 17,671.

It’s a shorter work week with Veterans Day on Wednesday, November 11, 2015. A huge heartfelt thank you to our Veterans who serve our country and to their families.

Here are some of the economic indicators scheduled to be released this week that may impact the direction of mortgage interest rates:

• Thursday, November 12: Initial Jobless Claims
• Friday, November 13: Retail Sales; Producer Price Index (PPI); Consumer Sentiment Index (UoM)

Mortgage rates are up by about 0.125% in rate compared to last Monday’s rate post. As I write this, 9:25 am on November 9, 2015, I am quoting:

EDITORS NOTE: Rates posted below are EXPIRED! For a current rate quote for your Washington state home, please click here.

• 30 year fixed: 3.875% (apr 4.060%) priced with 1.490 points with p&i (principal and interest) of $1,880.95.
• 30 year fixed: 4.000% (apr 4.111%) priced with 0.589 points with p&i of $1,909.66.
• 20 year fixed: 3.750% (apr 3.936%) priced with 0.892 points with p&i of $2,319.84.
• 15 year fixed: 3.125% (apr 3.438%) priced with 1.442 points with p&i of $2,786.44.
• 15 year fixed: 3.250% (apr 3.471%) priced with 0.812 points with p&i of $2,810.68.

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 December 17, 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.