This is a very short week stuffed with economic indicators that may impact the direction of mortgage interest rates.
The markets will be closed on Thursday for Thanksgiving and will close early on Friday.
What May Impact Mortgage Rates this week: November 23, 2015
November 23, 2015 by 1 Comment
What May Impact Mortgage Rates this week: November 16, 2015
November 16, 2015 by 1 Comment
I am so saddened by the events that have taken place in Paris and Beriut last week. Our hearts, prayers and thoughts are with the innocent people who were injured or lost their lives and to their families.
World events such as this may influence the direction of mortgage rates as traders may seek out the safety found in bonds, like mortgage backed securities. Tragic events may cause mortgage rates to lower.
What May Impact Mortgage Rates this Week: November 9, 2015
November 9, 2015 by 1 Comment
Mortgage rates continue to drift higher as odds increase that the Fed will raise the Funds Rate in December following the stronger than expected Jobs Report on Friday. As of 9:04 this morning, the Dow is down 239 at 17,671.
It’s a shorter work week with Veterans Day on Wednesday, November 11, 2015. A huge heartfelt thank you to our Veterans who serve our country and to their families.
Mortgage Rates trending higher after the Jobs Report
November 6, 2015 by 2 Comments
This morning’s Jobs Report came in much stronger than expected with 271,o00 new jobs added in October vs the 181,000 anticipated. Positive revisions were made for August and July. The unemployment rate remains at 5% and hourly wages saw their biggest year over year increase since 2009.
All this good news is not so good for mortgage interest rates. While it’s great for more jobs, less unemployment and higher wages, it translates to wage inflation. Inflation is the arch enemy of bonds and mortgage backed securities (bonds) are what mortgage rates are based on.
The strong Jobs Report also increases the odds of the Fed increasing the Fed Funds rate in December.
What May Impact Mortgage Interest Rates this Week: November 2, 2015
November 2, 2015 by 2 Comments
Can you believe November is here already? With this being the first week of the month, we have the Jobs Report scheduled to be released on Friday. The Jobs Report tends to influence the direction of mortgage rates because it may show signs of inflation, with rising incomes, which is the enemy of bonds. Mortgage rates are based on mortgage backed securities (bonds). So a Jobs Report that reveals the economy is doing great and wages are going up may cause mortgage rates to trend higher.
Is Renting Getting too Expensive? Consider buying a home
October 30, 2015 by Leave a Comment
Zumper has released their fall rental report revealing that Seattle has the 10th most expensive rents for a major city in the nation for one bedroom apartments. Zumper reports that the average rent in September for a one bedroom in Seattle is $1600. That’s up 0.6% from the previous month and up a whopping 7.1% compared the last quarter. Zumper reports that a 2 bedroom apartment averaged $2200 for rent in Seattle. In May, I wrote about how a 2 bedroom in Seattle was averaging $1907 for rent.
What may impact Mortgage Rates this week: October 26, 2015
October 26, 2015 by 1 Comment
This week is packed with economic data that may impact the direction of mortgage interest rates. You may special attention to Wednesday, when the Fed meeting wraps up. It is not anticipated that the Fed will change the Fed Funds Rate. However, the press release and Fed commentary following the meeting will be parsed.
What May Impact Mortgage Rates this Week: October 19, 2015 – MORTGAGE RATES MOVE LOWER
October 19, 2015 by 1 Comment
This week, there isn’t a lot scheduled as far as economic indicators. Overall, mortgage rates are trending lower compared to my last rate post two weeks ago. Here are the economic indicators scheduled to be released this week:
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