Mortgage Rates trending higher after the Jobs Report

November 6, 2015 by 2 Comments

MortgagePorter-JobsReportThis 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.

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What May Impact Mortgage Interest Rates this Week: November 2, 2015

November 2, 2015 by 2 Comments

MortgagePorter-JobsReportCan 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.

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Is Renting Getting too Expensive? Consider buying a home

October 30, 2015 by Leave a Comment

october_2015_seattle_rentsZumper 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.

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Filed Under: Interest Rates, Residential Purchase, Seattle Tagged With:

What may impact Mortgage Rates this week: October 26, 2015

October 26, 2015 by 1 Comment

mortgageporter-economyThis 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.

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What May Impact Mortgage Rates this Week: October 19, 2015 – MORTGAGE RATES MOVE LOWER

October 19, 2015 by 1 Comment

mortgageporter-economyThis 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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Freddie Mac Reports Mortgage Rates Remain Below 4% for the past Twelve Weeks

October 15, 2015 by 1 Comment

Freddie Mac’s Primary Mortgage Market Survey was released this morning revealing that conventional mortgage rates have remained below four percent for the past twelve week. The PMMS reports that average rate for the 30 year fixed last week was 3.82% with an average of 0.6 points.

2015-10-15_0725_Freddie_mac_pmms

If you are considering buying or refinancing a home located in Washington state, I’m happy to provide you with a rate quote.

Filed Under: Interest Rates

What May Impact Mortgage Rates this Week: October 5, 2015 – RATES IMPROVED

October 5, 2015 by 1 Comment

10527303_10152476072701046_2911459444863856330_nWe don’t have a lot of economic indicators scheduled to be released this week. We do have the Seahawks on Monday Night Football!!!

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What may impact mortgage rates this week: September 28, 2015

September 28, 2015 by 1 Comment

MortgagePorter-JobsReportMortgage rates have been a little bouncy lately and remain very low. There has been a lot of “Fed speak” following last week’s Fed meeting with various flip flopping commentary on when the Fed Funds rates may be raised. This Friday we will have the Jobs Report, which tends to impact mortgage interest rates.  Today, the Dow closed down 312 points today at 16,001.

Here are some of the economic indicators scheduled to be released this week:

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Filed Under: Interest Rates
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