What May Impact Mortgage Rates this week: January 18, 2016

mortgageporter-economyThis week began with  a holiday, Martin Luther King Jr. Day. The volatility in the markets continue this short week. At one point today, the Dow was down 566 points and ended up closing down 249 points. Global stocks dropped overnight with fears over China’s economy and oil prices at very low levels. All this turmoil translates to lower mortgage interest rates, as traders seek the safety of bonds, like mortgage interest rates.

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

  • Tuesday, January 19: Housing Market Index
  • Wednesday, January 20: Building Permits; Consumer Price Index (CPI); Housing Starts
  • Thursday, January 21: Initial Jobless Claims; Philadelphia Fed Index
  • Friday, January 22: Existing Home Sales

If you are considering buying or refinancing a home located anywhere in Washington state, I am happy to help you! Click here if I can provide you with a mortgage rate quote or here if you would like to be pre-approved for a mortgage.

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