What may move mortgage rates the week of August 13, 2012

August 13, 2012 by Leave a Comment

As I prepare this post (7:15 am) mortgage rates are much the same as what I was quoting on Friday: VERY LOW!  You can check out what mortgage rates I’m quoting for my Washington clients by following me on Twitter @mortgageporter.

The following are economic indicators scheduled to be released this week which may impact mortgage interest rates.

  • Tuesday, August 14: Retail Sales and Producer Price Index (PPI)
  • Wednesday, August 15: Consumer Price Index (CPI) and Empire State Index
  • Thursday, August 16: Initial Jobless Claims, Housing Starts, Building Permits and Philadelphia Fed Index
  • Friday, August 17: Consumer Sentiment Index

Remember, mortgage rates are based on mortgage backed securities (bonds). When the stock market is doing well, investors will trade the safety of bonds for the risk of a higher return with stocks, which causes mortgage rates to trend higher. Watch for signs of inflation with the economic data scheduled to be released this week as that may also impact mortgage rates for the worse. Unplanned events, such as what’s going on in the Euro-zone may also impact mortgage rates.

If you would like me to provide you a mortgage rate quote for your home located anywhere in Washington state, please click here.

Filed Under: Economy Tagged With: ,

Vacations over…I’m back to work!

August 6, 2012 by 1 Comment

I’m back to work after my vacation in Hawaii with my son. We had a great time exploring Oahu’s beautiful beaches. The last time I was in Hawaii was probably about 12 years ago when my husband was a county manager for a title insurance company. And we brought home beautiful weather to Seattle – wasn’t this weekend gorgeous?

Okay… back to work. This week we don’t have a lot on deck as far as scheduled economic indicators. 

Wednesday, August 8: Productivity

Thursday, August 9: Initial Jobless Claims

Watch for the results of the bond auctions starting Tuesday and ending Thursday when the Treasury will be selling $72B in notes and bonds.

Last Friday’s Jobs Report came in stronger than expected which has caused mortgage rates to trend higher.  With that said, mortgage rates are still extremely low.

As of 7:40 am this morning (8/6/2012), I’m quoting 3.500% (apr 3.579) for a 30 year fixed rate based on a sales price of $500,000 with a $400,000 loan amount (20% down) and low-mid credit scores of 740 closing in 30 days for a purchase in greater Seattle.

If you’re interested in a mortgage rate quote or getting preapproved for a purchase or refinance for a home located anywhere in Washington state, please contact me.

Filed Under: Economy Tagged With: , ,
« Previous Page