Freddie Mac’s PMMS report released this morning reveals mortgage rates continued to move lower for the third consecutive week. According to this report, mortgage interest rates are at their lowest in (just barely) over a year.
Mortgage Rates Drop to Lowest in 10 Months!
February 7, 2019 by Leave a Comment
Freddie Mac reports that mortgage interest rates are at 10 month lows in today’s Prime Market Mortgage Survey.
The Prime Mortgage Market Survey is based on an average of conforming mortgage rates from last week. If you would like to have a current mortgage rate quote based on your personal criteria for your home located anywhere in Washington state, please contact me! I’m happy to provide you with a no-hassle mortgage rate quote.
Lowest Mortgage Rates of the Year!
January 3, 2019 by Leave a Comment
Freddie Mac’s Prime Mortgage Market Survey reveals mortgage rates are at very low levels.
The low rates are due to the volatility taking place in the stock market. Sam Khater, Chief Economist states, “it will be interesting to see how the recent turmoil in the stock market will affect home buying activity in the coming months.” [Read more…]
Market Volatility and Lower Mortgage Rates
December 6, 2018 by Leave a Comment
Freddie Mac’s PMMS report shows that mortgage interest rates have dropped this week largely due to the market volatility with the on again off again trade war with China.
What is a mortgage “buy down”?
October 30, 2018 by Leave a Comment
With rising mortgage interest rates, “buy-downs” are the new buzz word. A “buy down” either temporarily or permanently reduces the interest rate on a mortgage loan. With the local real estate market cooling down, it’s not unusual to see a Seller agree to actually pay for a buy-down to help sweeten the deal for a potential home buyer. It can actually be a “win-win” for both buyer and seller as the buyer receives a lower mortgage payment and the contribution paid by the seller may be less than what a price reduction might be. [Read more…]
Mortgage interest rates continue to trend higher
September 27, 2018 by Leave a Comment
This morning Freddie Mac released their weekly Prime Mortgage Market Survey (PMMS) showing that mortgage interest rates are continuing to trend higher. Click here for current mortgage interest rates in greater Seattle and beyond.
Mortgage rates bumping along
August 30, 2018 by Leave a Comment
Freddie Mac’s weekly report on mortgage rates, the Prime Mortgage Market Survey (aka PMMS) which shows what mortgage rates averaged last week, shows that rates bumped slightly higher. Remember, mortgage rates change constantly as they are based on bonds (mortgage backed securities). Rates posted are subject to change and, since this is an average from last week, they already have changed. This report is just intended to provide an idea of the direction of where mortgage rates have been and where they may be heading. If you would like current rates for your personal scenario, please contact me.
How does economic news impact mortgage interest rates?
August 1, 2018 by Leave a Comment
Mortgage rates are based on bonds (mortgage backed securities) and are traded fairly similar as stocks. Investors tend to favor stocks over bonds as stocks tend to provide a better return. However, investors will opt for bonds over stocks when they are seeking safety when markets are tumultuous. When the stock market is on a run, odds are mortgage rates may be moving higher as investors are selecting stocks over bonds. And when the stock market is tanking, mortgage rates tend to improve for the same reason. [Read more…]
Recent Comments