T
his week is packed full of economic data that may dramatically impact mortgage rates. Not only do we have the results of the Fed meeting on Wednesday, we wind up the week with the Jobs Report on Friday. I anticipate this will be another volatile week for mortgage interest rates.
What may impact mortgage rates this week: July 29, 2013
July 29, 2013 by Leave a Comment
Mortgage Interest Rate Locks 101: UPDATED
July 18, 2013 by 2 Comments
EDITORS NOTE: One of the joys of writing a mortgage blog is that guidelines and procedures change…and change often. This gives me a great opportunity to provide you with an updated post. With HUD’s creation of the 2010 Good Faith Estimate, a lot of the information in the original post is no longer relevant (relating to the GFE) from the original article I wrote on locking back in 2007. With that said, here’s my updated post…we’ll see if we need to revise this again once CFPB issues their version of the Good Faith Estimate!
I love it when I’m asked an excellent question from a potential client. This person is still shopping for his next home and who the lender will be to provide financing. At this point, I have provided several good faith estimates and a total costs analysis to compare possible scenarios side by side along with how the mortgages may be working for him in 5 and 10 years.
What May Impact Mortgage Rates this Week: July 8, 2013
July 8, 2013 by Leave a Comment
This morning, mortgage backed securities are recovering from Friday’s fiasco following the better than expected Jobs Report. On Wednesday, the minutes from the last Fed meeting will be released which may set mortgage rates off on another roller coaster ride.
Here are some of the economic indicators scheduled to be released this week:
What May Impact Mortgage Rates this Week: July 1, 2013
July 1, 2013 by Leave a Comment
This is a short week packed full of economic data that may impact already turbulent mortgage rates. It may look like a light week – watch for Friday’s Jobs Report. The bond and stock markets will close early Wednesday and reopen on Friday following the 4th of July holiday.
Monday, July 1: ISM Index
Wednesday, July 3: Initial Jobless Class and ISM Services Index
Thursday, July 4th: HAPPY INDEPENDENCE DAY
Friday, July 5: The Jobs Report
If you would like me to provide you with a rate quote for your purchase or refinance of a home located anywhere in Washington state, where I’m licensed, please click here.
Are mortgage rates in the 3’s gone?
June 6, 2013 by
Mortgage rates have been moving higher causing some home buyers and rate shoppers a bit of surprise. Mortgage rates have been trending up with hints of QE3 and the Fed’s bond buying program, which has kept mortgage rates at artificial lows, may be wrapping up soon. Freddie Mac reports that the 30 year fixed is at 3.91% when paying 0.7 points and if not points are paid, the rate is 4.09%. Keep in mind that the rates Freddie has posted today are from last week and rates have continued to nudge higher.
Why is the Jobs Report so important to mortgage rates?
May 3, 2013 by 1 Comment
Typically on the first Friday of every month, the Bureau of Labor Statistics releases the Employment Situation Summary, otherwise known as The Jobs Report. This report details specific employment trends, including how many Americans are employed with “non-farm” jobs, trends in various fields of employment, income and hours worked. It also includes the “official” unemployment rate. The data contained in the Jobs Report carries a lot of weight and is considered one of our country’s stronger economic indicators.
Mortgage Rate Update for the Week of March 18, 2013
March 18, 2013 by Leave a Comment
This morning, mortgage rates are improving largely due to drama that’s taking place in Europe with the IMF and the island of Cypress. The IMF is taxing (some say stealing) from depositors causing a run on the banks.
Remember, mortgage rates are based on mortgage backed securities (bonds). And when investors will seek the safety of bonds over the potential higher return found with stocks, causing mortgage rates to improve.
Mortgage rate update for the week of March 11, 2013
March 11, 2013 by Leave a Comment
The strong Jobs Report on Friday caused mortgage rates to trend higher. This morning rates are still at that level. Please keep in mind that although I talk about mortgage rates been higher – they’re still very low. However if you’ve been pricing mortgage rates over the last two months, you’ll notice that the price (discount) for the same rate you’ve been quoted, cost more.
Recent Comments