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.
Mortgage rate update for the week of March 11, 2013
March 11, 2013 by Leave a Comment
Mortgage rate update for the week of February 18, 2013
February 18, 2013 by Leave a Comment
The stock and bond markets are closed today in observance of President’s Day. Here are a few of the economic indicators scheduled to be released this week.
Wed. February 20: Building Permits; Producer Price Index (PPI); Housing Starts; FOMC Minutes released
Thurs. February 21: Consumer Price Index (CPI); Initial Jobless Claims; Philadelphia Fed Index; Existing Home Sales
Watch for signs of inflation from the PPI or CPI, which tends to drive mortgage rates higher. Wall Street will also be paying close attention to the FOMC minutes.
Happy President’s Day!
Mortgage rate update for the week of January 14, 2013
January 14, 2013 by Leave a Comment
This week is packed with economic reports that may impact the direction of mortgage interest rates. Mortgage rates are based on mortgage backed securities (bonds). When the Fed minutes revealed hints that the FOMC may stop purchasing mortgage backed securities last week, mortgage rates ticked slightly higher. However Japan is hinting of buying US bonds, which is helping rates trend lower this morning.
Signs of inflation or the economy recovering may also cause mortgage rates to trend higher. Here are some of the economic indicators scheduled to be released this week:
- Mon, January 14: No scheduled data – however, Ben Bernanke is speaking this afternoon on monatary policy.
- Tue, January 15: Producer Price Index (PPI), Retail Sales and Empire State Index
- Wed, January 16: Consumer Price Index (CPI) and the Beige Book
- Thurs, January 17: Initial Jobless Claims, Building Permits, Housing Starts and Philadelphia Fed Index
- Fri, January 18: UoM Consumer Sentiment Index
NOTE: Monday, January 21, 2012 our office will be closed in observance of Martin Luther King Day.
As I write this post (8:24 am pst) the DOW is up 5 at 13493 and MBS for the FNMA 30 year is up slightly.
If you would like a mortgage rate quote for your Washington state home, please click here. I’m happy to help!
Mortgage Rate update for the week of November 13, 2012
November 13, 2012 by Leave a Comment
Mortgage rates continue to provide many the opportunity to reduce their mortgage payments or to qualify to a home at extremely low rates. With the re-election of President Obama, it’s also likely we will see expansion of the Home Affordable Refinance Program to HARP 3.0 as well as the governments prolonged purchasing of mortgage backed securities, manipulating mortgage rates at these historic low levels.
What may impact mortgage rates the week of September 10, 2012
September 10, 2012 by Leave a Comment
Although at first glance, this week may seem like there’s not a lot scheduled that may impact mortgage rates, what is scheduled is significant. We have the FOMC meeting winding up on Thursday following last Friday’s weaker than expected Jobs Report. Friday is packed with reports that may reveal signs of inflation, which tends to drive mortgage rates higher.
Here are some of the economic indicators scheduled for this week:
Thursday, Sept. 13: FOMC Meeting; Producer Price Index (PPI); Initial Jobless Claims
Friday, Sept. 14: Retail Sales; Consumer Price Index (CPI); Consumer Sentiment Index (UoM)
For your personal mortgage rate quote for your home located anywhere in Washington state, please contact me.
You can also follow me on Twitter or Facebook where I provide live rate quotes and mortgage tid-bits throughout the day.
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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.
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