What May Impact Mortgage Rates this week: December 28, 2015

Seattle_fireworksHappy last week of 2015! I hope you are having a wonderful holiday. I feel so fortunate that my son was able to come back for his first visit back home for a quick visit.

With New  Years on Friday, we will have another short week with markets closing early on Thursday and re-opening on Monday.

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

  • Tuesday, December 29: S&P/Case-Shiller Home Price Index; Consumer Confidence
  • Wednesday, December 30: Pending Home Sales
  • Thursday, December 31: Initial Jobless Claims; Chicago PMI
  • Friday, January 1: HAPPY NEW YEAR!

Mortgage rates continue to trend higher compared to last week’s rate post. As I write this, 10:00 am on December 28, 2015, I’m quoting:

EDITORS NOTE: Rates posted below are EXPIRED! Please click here if I can provide you with current mortgage interest rates for your Washington home.

  • 30 year fixed: 4.000% (apr 4.141%) priced with 0.951 points with p&i (principal and interest) of $1,909.66.
  • 20 year fixed: 3.750% (apr 3.959%) priced with 1.088 points with p&i of $2,371.55.
  • 15 year fixed: 3.250% (apr 3.521%) priced with 1.145 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 February 4, 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.

 

 

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