Happy Holidays! With this being a short week due to Christmas, we may see a bit more volatility with mortgage rates with many traders taking time off for the holidays. Markets will be closing early on Tuesday for Christmas Eve and will be closed all day Wednesday. Here are some of the economic indicators scheduled to be released this week:
What May Impact Mortgage Rates this Week: December 23, 2014
December 23, 2013 by Leave a Comment
New Conforming Price Adjustments for Mortgage Rates
December 19, 2013 by 3 Comments
UPDATE: DECEMBER 23, 2013: Incoming Director of the FHFA, Mel Watts has announced that he will delay the increase to conforming price adjustments (aka LLPA or guarantee fees).
This week Fannie Mae revealed conforming price adjustments (LLPA) which will increase the cost for mortgage rates in 2014. This complied with the Fed beginning to pull back on their bond buying program will certainly cause mortgage rates to trend higher.
What may impact mortgage rates this week: November 18, 2013
November 18, 2013 by Leave a Comment
Last week mortgage interest rates improved thanks to Janet Yellen indicating at her confirmation hearing that as our next Fed head, she will continue on with QE and support the Fed’s actions of buying mortgage backed securities to keep mortgage interest rates artificially low. This was sweet news to the markets and we’re still seeing lower mortgage rates this morning.
What May Impact Mortgage Rates this Week: November 4, 2013
November 4, 2013 by 1 Comment
Mortgage rates continue to be at very low levels. Although they’re not at the lows from May, Freddie Mac’s Mortgage Market Survey reports that mortgage rates have been trending lower for the last four months. If you missed the refi-boat a few months ago, this may be your second chance. You may want to contact a local licensed mortgage professional for an updated mortgage rate quote (if your home is located anywhere in Washington state, I’m happy to help you).
What May Impact Mortgage Interest Rates this Week: October 28, 2013
October 28, 2013 by 2 Comments
This week is packed with data that may drive mortgage rates higher or lower, including the Fed meeting which wraps up on Wednesday. It’s highly unlikely the Fed will make any changes to the Fed Funds Rate. Traders will be waiting for clues on when tapering may begin (it’s estimated will be pushed out to March 2014). Remember, mortgage interest rates are based on bonds (mortgage backed securities – MBS) and change throughout the day, just like stocks do. It’s not unusual to have bonds react opposite of the stock market as investors will often trade the safety of bonds for the potential return found with stocks (and the reverse is true).
What May Impact Mortgage Rates this Week: September 30, 2013: Mortgage Rates Trending Lower
September 30, 2013 by 1 Comment
The debt ceiling is influencing the markets today with the potential threat of the government shutting down at midnight tonight. Did you know that Congress is exempt from furloughs and will still be paid if the government shuts down?
What May Impact Mortgage Rates this Week: September 23, 2013
September 23, 2013 by Leave a Comment
Mortgage rates are improved after last week’s Fed Meeting with the indication the Fed will delay tapering off their purchase of mortgage backed securities. Watch for news regarding whether or not Congress is going to raise the debt ceiling to avoid a government shut down on October 1 as this may impact the direction of mortgage rates.
What May Impact Mortgage Rates this Week: September 16, 2013
September 16, 2013 by Leave a Comment
Mortgage backed securities are improving this morning on the news that Larry Summers has withdrawn as a candidate for the next Fed Chairman. This leaves current Fed Vice Chairman Janet Yellan as a strong candidate to replace Ben Bernanke. Bond markets are reacting positively to the news that Janet is once again a front runner as the next Fed head. Speaking of the Fed – watch for the results of the FOMC meeting on this Wednesday.
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