Fed to Keep Mortgage Rates Sweet and Low

September 18, 2013 by 1 Comment

iStock-000020911287XSmallThe Fed made no changes to the Fed Funds rate… no surprise there. However, the Fed did surprise the markets today announcing they are not tapering their purchasing of mortgage backed securities. From today’s press release:

“…Taking into account the extent of federal fiscal retrenchment, the Committee sees the improvement in economic activity and labor market conditions since it began its asset purchase program a year ago as consistent with growing underlying strength in the broader economy. However, the Committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases.  [Read more…]

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What May Impact Mortgage Rates this Week: August 19, 2013

August 19, 2013 by Leave a Comment

mortgageporter-economyI hope you are having a wonderful summer. Our Seattle summer has been just beautiful – I don’t even mind the few days of rain we’ve had sprinkled in. Anyhow, you’re not reading this post for a weather report, are you? Let’s get back to what may impact mortgage interest rates this week! Today and Tuesday, we don’t have any economic indicators scheduled to be released. Wednesday is the big day with the minutes from the last Fed meeting being released.

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What may impact mortgage rates this week: July 29, 2013

July 29, 2013 by Leave a Comment

Tmortgageporter-economyhis 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.

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What May Impact Mortgage Rates this Week: July 8, 2013

July 8, 2013 by Leave a Comment

mortgageporter-economyThis 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:

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What may impact mortgage interest rates this week: June 17, 2013

June 17, 2013 by Leave a Comment

On Wednesday, we’ll have the results of the Fed Meeting which is sure to influence mortgage rates as traders wait for clues as to what the Fed plans to do with quantitative easing. It is not anticipated that the Fed will make any changes to the Fed Funds rate at this meeting. Ben Bernanke will be holding a press conference on Wednesday following the Fed Meeting.

Here are some of the economic indicators scheduled to be released this week:

  • Monday, June 17:  Empire State Index
  • Tuesday, June 18: Building Permits; Consumer Price Index (CPI); Housing Starts
  • Wednesday, June 19: the FOMC Meeting
  • Thursday, June 20: Initial Jobless Claims; Existing Home Sales; Philadelphia Fed Index

Remember, mortgage rates are based on mortgage backed securities (bonds) and when the stock market is rallying, mortgage rates tend to deteriorate as investors will trade the safety of bonds for the potentially stronger return found with stocks. The reverse is also true.

Want more details? Check out this week’s issue of Mortgage Market Guide Weekly.

If you would like me to provide you with a mortgage rates quote for your refinance or purchase for a home located anywhere in Washington state, where I’m licensed, click here.

Filed Under: Economy Tagged With: , ,
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