On Friday, markets were surprised by the strong Jobs Report, adding 204,000 jobs vs the 100,000 expected. This caused mortgage rates to tick higher (although they are still at historically very low levels) catching borrowers who had not locked prior to Friday a bit of a surprise as well. Bond markets are closed today in observance of Veterans Day.
What May Move Mortgage Rates this Week: November 11, 2013
November 11, 2013 by Leave a Comment
What May Impact Mortgage Rates this Week: November 4, 2013
November 4, 2013 by 1 Comment
Mortgage rates continue to be at very low levels. Although they’re not at the lows from May, Freddie Mac’s Mortgage Market Survey reports that mortgage rates have been trending lower for the last four months. If you missed the refi-boat a few months ago, this may be your second chance. You may want to contact a local licensed mortgage professional for an updated mortgage rate quote (if your home is located anywhere in Washington state, I’m happy to help you).
What May Impact Mortgage Interest Rates this Week: October 28, 2013
October 28, 2013 by 2 Comments
This week is packed with data that may drive mortgage rates higher or lower, including the Fed meeting which wraps up on Wednesday. It’s highly unlikely the Fed will make any changes to the Fed Funds Rate. Traders will be waiting for clues on when tapering may begin (it’s estimated will be pushed out to March 2014). Remember, mortgage interest rates are based on bonds (mortgage backed securities – MBS) and change throughout the day, just like stocks do. It’s not unusual to have bonds react opposite of the stock market as investors will often trade the safety of bonds for the potential return found with stocks (and the reverse is true).
What May Impact Mortgage Rates this Week: October 21, 2013
October 21, 2013 by Leave a Comment
Typically the Jobs Report falls on the first Friday of a month. With the government shutdown in full swing, the September Job’s Report was delayed and is now scheduled to be released tomorrow. Here are some economic indicators that are scheduled to be released this week:
What May Impact Mortgage Rates this Week: October 14, 2013
October 15, 2013 by Leave a Comment
The Government shutdown continues to drag on with the debt ceiling deadline pretty much here. Currently mortgage rates are at very low levels, however if the US defaults on their debts, we could see a spike in interest rates on Thursday. I hope I’m wrong… and we’ll how the next few days are going to pan out soon.
What May Impact Mortgage Interest Rates this Week: October 7, 2013
October 7, 2013 by 1 Comment
As the government shut down continues, Congress has the debt ceiling the contend with by October 17, 2013, or our country will lose the ability to borrow. It almost seems “subprime” to me that our country has to continue to increase the amount of funds we borrow because our country went out to dinner and two glasses of wine (as President Obama explained it in a speech last week). Mortgage rates continue to be at lower levels. Once the government is back to work and the debt ceiling issue is resolved, in my opinion, we may see mortgage rates pop up.
What May Impact Mortgage Rates this Week: September 30, 2013: Mortgage Rates Trending Lower
September 30, 2013 by 1 Comment
The debt ceiling is influencing the markets today with the potential threat of the government shutting down at midnight tonight. Did you know that Congress is exempt from furloughs and will still be paid if the government shuts down?
What May Impact Mortgage Rates this Week: September 23, 2013
September 23, 2013 by Leave a Comment
Mortgage rates are improved after last week’s Fed Meeting with the indication the Fed will delay tapering off their purchase of mortgage backed securities. Watch for news regarding whether or not Congress is going to raise the debt ceiling to avoid a government shut down on October 1 as this may impact the direction of mortgage rates.
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