This week is packed with economic data that may influence the direction of mortgage rates wrapping up with the Jobs Report on Friday. Mortgage rates will also react to world tensions, such as what’s taking place in the Middle East. This is because mortgage rates are based on bonds (mortgage backed securities) and investors often seek the safety of bonds over the potentially higher return found with stocks. Stocks are taking a hit this morning and mortgage backed securities are improved.Here are some of the economic indicators that are scheduled to be released this week:
What May Impact Mortgage Rates this Week: September 29, 2014
September 29, 2014 by 1 Comment
How much does a bump in interest rates impact home buyers?
September 26, 2014 by Leave a Comment
I’m reading an article this morning, “When Mortgage Rates Rise”, which addresses something that I’m often asked and that I also addressed recently on post here. Essentially, the “experts” are predicting that we will mortgage rates trend higher to around the 5% range by mid to late next year. Historically, speaking, 5% is not a high rate… in fact, I’m sure I wrote a blog post about when mortgage rates dipped as low as 5% back around 2008 . Our “problem” is that we have become accustomed to fixed rates in the 3 to 4% range. Mortgage rates have been at artificially low levels for a long period. And I agree that we will see this end as the Fed continues to pull back their support of mortgage backed securities.
What May Impact Mortgage Rates this Week: September 22, 2014.
September 22, 2014 by 1 Comment
Happy first day of fall! Mortgage rates continue to be in a fairly tight range and are slightly improved compared to last Monday’s rate post.
Here’s a short list of economic indicators that may impact the direction of mortgage rates this week:
Freddie Mac’s Mortgage Rate Survey reveals some of the lowest mortgage rates of 2014
September 4, 2014 by 1 Comment
Today Freddie Mac released their Primary Mortgage Market Survey showing the 30 year fixed rate at some of the lowest levels for this year. Freddie’s PMMS is based on survey of various lenders from rates quoted the previous week and is intended to show consumers what the average rate and points for that rate were last week.
What May Impact Mortgage Rates this week: August 11, 2014
August 11, 2014 by Leave a Comment
This week’s economic calendar is on the lighter side. Here are some of the economic indicators scheduled to be released this week:
- Wednesday, August 13: Retail Sales
- Thursday, August 14: Initial Jobless Claims
- Friday, August 15: Producer Price Index; Empire State Index; Consumer Sentiment Index (UoM)
What May Impact Mortgage Rates this week: August 4, 2014
August 4, 2014 by 1 Comment
I hope you’re enjoying your summer. Can you believe that it’s already August? Tomorrow, August 5, 2014, is Seattle Night Out (actually, National Night Out) and many neighborhoods will be getting to know each better over block parties and/or pot luck dinners during this annual crime prevention event. This is a great excuse to get to know your neighbors better so if you don’t have anything planned tomorrow, why not knock on a few doors and have an impromptu pot luck? 🙂
Photo: Our puppy, Hitch, having fun with one of his neighbors, Sadie.
What May Impact Mortgage Rates this Week: July 28, 2014
July 28, 2014 by 1 Comment
This week is packed full of economic indicators that may influence mortgage interest rates, including the Fed meeting on Wednesday and Jobs Report on Friday. The Jobs Report carries a lot of weight with mortgage rates as it may indicate inflation. As the economy and employment improves, we may see signs of wage inflation. Inflation is the arch enemy of bonds, like mortgage backed securities – which mortgage rates are based on. World tensions may also impact mortgage rates as investors may seek the safety found in bonds.
What May Impact Mortgage Rates this Week: July 21, 2014
July 21, 2014 by 1 Comment
Mortgage rates are not only impacted by the direction of bonds (mortgage backed securities); global tensions may also influence mortgage interest rates. We saw this last week with the heart breaking and horrific downing of the Malaysian flight and increased global tensions. Rates slightly improved as investors opted for the safety found in bonds.
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