Freddie Mac released the Prime Mortgage Market Survey this morning showing mortgage interest rates have been trending lower.
The PMMS is based on averages from the last week so rates posted here do not reflect “live” rates and they may not be what rates are currently. The Prime Mortgage Market Survey shows the direction mortgage interest rates have been trending. The average includes conventional purchase loans with at least 20% down payment with borrowers who have excellent credit.
If you would like to see current mortgage rates for your scenario for homes located anywhere in Washington state, please contact me!
Mortgage rates jumped roughly 0.25% today in rate (or about 1% in discount points) today because of strong economic data and possibly signs of inflation. Costco announced it will be raising their minimum pay to $16 per hour – which is great news for Costco employees – however, it’s wage inflation (which we will probably see more of). When wages go up, the cost of goods will follow. Inflation drives mortgage rates higher because of the impact to bonds, like mortgage backed securities. 
The other day, a Redmond home owner contacted me for a quote to refinance their home. They specifically requested scenarios for “lowest possible interest rate without paying any points or closing costs“. 
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