Helping Washington State homeowners learn more about their mortgage options.
My apologies for being a couple days late on this post which is typically published on Mondays… I had Monday off (it was my birthday) and with taking a day off, I had fun catching up on emails yesterday.
For my birthday, my husband and I went to Pinot country in Oregon – it is absolutely beautiful. If you enjoy pinot noir or crisp white wine, I recommend you check it out!
Mortgage rates are pretty much unchanged following yesterday’s sell off in the bond market causing rates to trend higher. Today at 11:00 am Seattle time, the Fed will release the minutes from the last FOMC meeting. This tends to influence mortgage rates so I thought it would be interesting to do a live rate mortgage rate post. You can follow me on Twitter @mortgageporter to see when I’ve updated this post.
Rates quoted below will be based on a sales price of $500,000 with 20% down payment, loan amount of $400,000. Borrowers have credit scores of 740 or higher. Rates quoted are subject to credit approval and may change at anytime. If I can provide you with a mortgage rate quote, click here.
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.
In a nutshell, the Fed will no longer be manipulating mortgage rates at artificially low levels. As I write this, I’m receiving intraday rate sheets from some lenders with pricing for the worse.
This is from the Fed’s Press Release:
I am going to attempt to write a “live post” today to illustrate how mortgage rates may change based on data that is released throughout the day and market reactions. Please keep in mind that despite my best efforts, sometimes a “live post” can be a bit challenging…we’ll give it a try!
This is a painting on black velvet that I did of our Fed Chairwoman, Janet Yellen, that hangs in my office. All eyes and ears will be on the Fed after the two day meeting FOMC meeting wraps up today. Here are some of the economic indicators scheduled to be released this week:
You may or may not know that one of my hobbies is painting. I especially enjoy painting on black velvet and recently completed a painting of our Federal Reserve Board Chair, Janet Yellen.
Because it’s Friday… I thought I’d share it with you just for fun.
Ms. Yellen is now hanging in my office at Mortgage Master Service Corporation.
You can see more of my artwork at www.rhondaporterart.com
Mortgage rates trended higher this afternoon after the Fed stated they will prune another $10 billion per month from their bond buying program which has been keeping mortgage rates artificially low.
From the FOMC Press Release:
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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