Mortgage interest rates are having one of their best days in months following the CPI report released this morning showing better than expected data on inflation. Yes, inflation is still high but this morning’s report indicates that it may be starting to correct. [Read more…]
Mortgage Rates Improved!
November 10, 2022 by Leave a Comment
Freddie Mac PMMS: Mortgage Rates on the Rise
September 30, 2022 by Leave a Comment
Freddie Mac’s Prime Mortgage Market Survey illustrates how mortgage interest rates have continued to push higher. The graph below is based on an average from last week so the rates are “expired”. This graph is to just give you an idea of how mortgage rates are trending. NOTE: Please click here for current mortgage rates for your personal scenario.
Fannie Mae projects Mortgage Interest Rates around 4.5% in 2023
August 31, 2022 by 4 Comments
Fannie Mae recently released updated projections for interest rates next year. An average of 4.500% for a 30 year fixed would be an improvement from what home buyers and homeowners have experienced since the jump in interest rates that that happened the second quarter of this year. We have to remember that this is just a prediction and many factors influence the direction of mortgage interest rates. [Read more…]
Marry the House. Date the Rate.
June 22, 2022 by Leave a Comment
I can’t take credit for the catchy phrase “Marry the house. Date the rate”. It’s being posted by mortgage professionals and real estate agents all over social media. What does this phrase mean? [Read more…]
Mortgage rates pushing higher
June 14, 2022 by Leave a Comment
Mortgage interest rates have been moving higher at a pace not seen in years. If you’ve been a subscriber to The Mortgage Porter, you may recall that I often say mortgage rates move up much faster than they come down…the jump over the last few days has surprised many. [Read more…]
Mortgage Rates slightly improved
May 26, 2022 by Leave a Comment
NOTE: Rates posted below are expired. For current rates on homes located anywhere in Washington state, please click here.
Freddie Mac’s Prime Mortgage Market Survey released this morning shows that mortgage rates have been slightly improving.
It’s important to note that this data is from last week and that these rates are not current. This graph merely illustrates the movement of interest rates over the 12 months. The bottom row actually dates back to 1970. [Read more…]
Freddie Mac’s PMMS Report Illustrates Rising Mortgage Rates
April 7, 2022 by Leave a Comment
Every Thursday, Freddie Mac releases the Prime Mortgage Market Survey which shows average rates from last week (this data is not current for today since it’s an average of last week’s applications). The survey is based on purchase applications with at least 20% down payment with excellent credit. So if you’re doing a cash-out refi, have less than stellar credit or have a higher loan to value, your rates would most-likely be higher than what’s shown on the survey.
UPDATE: Rates shown below are not current. Please click here for a mortgage rate quote based on your personal financial scenario for your home located in Washington state. 
[Read more…]
Mortgage Rates Dramatically Increase
April 5, 2022 by Leave a Comment
Today mortgage rates jumped about 0.25-0.375 in interest rate or about a full point (1% of the loan amount) in fee. Mortgage rates have been trending higher since the beginning of this year. Today’s movement with mortgage rates is a pretty significant increase for one day.
The is largely due to Federal Reserve Governor Brainard stating today that they are going to start rapidly liquidating their balance sheets as well as being more aggressive with increasing the federal funds rate. Combine this with inflation and mortgage rates will continue to push higher. [Read more…]
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