Freddie Mac’s PMMS shows mortgage rates remaining at low levels. 
From Freddie Mac’s Chief Economist, Sam Khater:
“While the economy continues to grow, it has lost momentum over the last two months due to the current wave of new COVID cases that has led to weaker employment, lower spending and declining consumer confidence. Consequently, mortgage rates dropped early this summer and have stayed steady despite increases in inflation caused by supply and demand imbalances…”
The rates posted above are an average from last week and, as you know if you’re a long time reader of The Mortgage Porter, mortgage rates change constantly as they are based on bonds. The PMMS report shows you where mortgage rates have been and is a good indicator for past trends. It does not necessarily show you where mortgage rates are now.
If you have been considering refinancing or buying a new home located anywhere in Washington state, I am happy to help you! Click here for a no-hassle mortgage rate quote for your personal scenario.
For a more “fresh perspective” on current mortgage rates, I like to rely on watching the trends with mortgage backed securities (bonds) which mortgage rates are based on. Basically, the higher the green stick moves, the lower mortgage rates “should” be.
Recently I helped some clients refinance their mortgage on their home in Tacoma. Not only did we dramatically reduce their monthly mortgage mortgage payment, they were able to make some improvements to their home. 
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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