The morning the Jobs Report was released with weaker than expected data with only 38K non-farm jobs added in May. This is far less than the anticipated 155k jobs. In addition, April’s Jobs Report was revised with fewer jobs than originally reported. [Read more…]
Mortgage rates drop following the Jobs Report
June 3, 2016 by Leave a Comment
What may impact the direction of mortgage rates this week: March 14, 2016
March 15, 2016 by Leave a Comment
This week is packed with economic data that may impact the direction of already volatile mortgage rates. Mortgage rates are based on bonds (mortgage backed securities/MBS) and change throughout the day, similar to stocks. MBS may often move in the opposite direction of stocks as investors will seek the safety of bonds when stocks are being volatile.
What May Impact Mortgage Rates this Week: February 29, 2016
February 29, 2016 by Leave a Comment
Happy Leap Year Day! This week is packed full of economic indicators that may impact the direction of mortgage interest rates including the Jobs Report on Friday.
What may impact mortgage rates this week: February 22, 2016
February 22, 2016 by Leave a Comment
Mortgage rates remain at very low levels. Here are some of the economic indicators scheduled to be released this week.
What May Impact Mortgage Rates this week: February 15, 2016
February 15, 2016 by Leave a Comment
I hope you had a Happy Presidents Day! Our office is closed in observance of this holiday. We will reopen for business as usual, along with the markets, Tuesday morning, February 16, 2016.
However, I still want to share what economic data may influence the direction of mortgage rates for the remainder of this week.
- Tuesday, February 16: Empire State Index; Housing Market Index
- Wednesday, February 17: Producer Price Index (PPI); Housing Starts; Building Permits; FOMC Minutes
- Thursday, February 18: Initial Jobless Claims; Philadelphia Fed Index
- Friday, February 19: Consumer Price Index (CPI)
We have a lot of data set to be released during this short week. Watch for signs of inflation, which may cause mortgage rates to trend higher off their very low levels.
If I can help you with your refinance or purchase of a home located anywhere in Washington state, please contact me.
What May Impact Mortgage Rates this Week: February 1, 2016
February 3, 2016 by Leave a Comment
Welcome to February! As it’s the first week of a month, we have the Jobs Report due to be released this Friday. Mortgage rates are at their lowest levels in months. Many Washington home owners are taking advantage and refinancing to either reduce their payment, shorten their mortgage terms or taking cash out for home improvements or to consolidate debt. We are also seeing more home buyers in action too! [Read more…]
What May Impact Mortgage Rates this Week: January 25, 2016
January 26, 2016 by Leave a Comment
The Fed starts their two day meeting today which wraps up tomorrow. It is highly unlikely that the Fed will make any changes to the Fed funds rate tomorrow. Investors will be paying close attention to the FOMC’s statement that will be released when their meeting has concluded around 11:00 PST.
Freddie Mac PMMS Reports Lowest Mortgage Rates in Three Months
January 21, 2016 by 1 Comment
Freddie Mac’s Primary Mortgage Market Survey reports that mortgage rates continued to trend lower last week with the 30 year fixed conventional mortgage averaging 3.81 with 0.6 points. [Read more…]
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