The last week of 2014 is here. It’s another short week with the New Year holiday and so we may be dealing with traders on vacations, which can translate to lighter volumes and/or more volatility. Markets and financial offices (including ours) will be closed on Thursday, January 1, 2015 to celebrate the New Year.
What May Impact Mortgage Rates this Week: December 29, 2014
December 29, 2014 by 1 Comment
What May Impact Mortgage Rates this Week: December 22, 2014
December 22, 2014 by 1 Comment
The last two weeks of this year are short ones due to the holidays. Many traders may be on vacation so you can anticipate the volatility to continue with stock and bond markets, which means we may see mortgage rates bump around a bit as well.
Bond markets will be closing early on Wednesday and will be closed on Thursday, as will Mortgage Master Service Corporation. Friday will be “back to normal” as far as work hours are concerned. 🙂 Next week will also be a shorter week with the New Year holiday.
Freddie Mac report reveals lowest mortgage rates of 2014
December 18, 2014 by Leave a Comment
Every week, Freddie Mac releases their Prime Mortgage Market Survey (PMMS) based on a survey a mix of 125 lenders on what committed mortgage rates and points were during the previous week. Based on Freddie Mac’s report, the average rate for a 30 year fixed rate mortgage averaged 3.80 percent with an average 0.6 points. This is down from last week when it averaged 3.93 percent. A year ago at this time, the 30-year averaged 4.47 percent.
Last FOMC Meeting of 2014 and how it impacts mortgage rates [LIVE POST]
December 17, 2014 by Leave a Comment
Today the Fed will wrap up their 2 day meeting around 11:00 am PST. All ears will be anxiously awaiting any clues as to what their policy will be in 2015.
It’s interesting to see how the markets react to “Fed Day” so I thought I’d do a “live post” today, updating this throughout the day with current mortgage rates.
What May Impact Mortgage Rates this week: December 15, 2014 – Mortgage rates IMPROVED
December 15, 2014 by 2 Comments
Last week, rates bumped along 14 months lows. Those who were in position to lock with a mortgage application started, were able to secure low rates so they will be able to benefit from lower mortgage payments in the New Year. Before a lender locks in an interest rate, they need to have a complete application, including a credit report, so they know how to price the rate (low mid-credit scores are used) and if you actually qualify for the refi. It takes about 20 – 30 minutes to complete an on-line application, so if you are toying with refinancing right now, I highly recommend you contact your local lender (I can help you if your home is located in Washington state) so that you can be ready to lock in a very low mortgage rate.
What May Impact Mortgage Rates this Week: December 8, 2014
December 8, 2014 by 1 Comment
Mortgage rates trended higher on Friday following the much stronger than expected Jobs Report which even included positive revisions for the two previous months. Weak economic news coming from Europe and China are helping bonds (like mortgage backed securities) improve this morning. Mortgage rates continue to be around 18 month lows so this could be a good time to review your current mortgage to see if refinancing makes sense. You can start the new year off with a lower mortgage payment and more money in your pockets!
What May Impact Mortgage Rates this week: December 1, 2014 – Mortgage Rates continue Lower
December 1, 2014 by Leave a Comment
Can you believe this is the last month of 2014? This year really seems to have gone by extra fast to me…or perhaps I’m just getting older or perhaps I’m feeling this way after returning to work following the long holiday weekend. 🙂
Regardless of how quickly time flies, this week is packed with economic data that may impact the direction of mortgage rates, including the Jobs Report on Friday.
Here are some of the economic indicators scheduled to be released this week:
What May Impact Mortgage Rates this week: November 24, 2014
November 24, 2014 by 1 Comment
This is a short week with offices closed Thursday and Friday for the Thanksgiving holiday. There are no economic indicators scheduled to be released today, however the rest of this week is stuffed, like a Thanksgiving turkey.
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