What May Impact Mortgage Rates this Week: December 14, 2015

Mortgage rates have been very volatile today with the Fed highly anticipated to increase the Fed Funds rate on Wednesday.

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

• Tuesday, December 15: Consumer Price Index (CPI); Empire State Index; Housing Market Index
• Wednesday, December 16: Building Permits; Housing Starts; FOMC Meeting
• Thursday, December 17: Initial Jobless Claims; Philadelphia Fed Index

Mortgage rates are trending higher compared to last week’s mortgage rate post. As I write this, 2:30 pm on December 14, 2015, I’m quoting:

EDITORS NOTE: Rates posted below are EXPIRED! If I can provide you with a current mortgage rate quote for your home in Washington, click here.

• 30 year fixed: 3.875% (apr 4.110%) priced with 1.463 points with p&i (principal and interest) of $1,880.95.
• 30 year fixed: 4.000% (apr 4.096%) priced with 0.579 points with p&i of $1,909.66.
• 20 year fixed: 3.750% (apr 3.913%) priced with 0.692 points with p&i of $2,371.55.
• 15 year fixed: 3.250% (apr 3.500%) priced with 1.005 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 January 21, 2016 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.