Freddie Mac released the Prime Mortgage Market Survey this morning showing mortgage interest rates have been trending lower.
Mortgage Rates trending higher
March 18, 2021 by Leave a Comment
It feels kind of funny to write about mortgage rates trending higher when they’re still in the three percent range…which historically, is an extremely low interest rate. However, we have all become accustomed to the pandemic-era rates below 3%. Check out how much rates have moved since February for the 30 year fixed (blue line) as illustrated with the PMMS report released today. EDITORS NOTE: Rates posted below are EXPIRED! Please click here for current mortgage rates.
A year ago, at this time, the PMMS reported the 30 year fixed rate averaged at 3.65%. A rate that is still far below what is a historically “normal” mortgage rate. [Read more…]
Mortgage Rates Jump on Good News and Inflation
February 25, 2021 by Leave a Comment
Mortgage rates jumped roughly 0.25% today in rate (or about 1% in discount points) today because of strong economic data and possibly signs of inflation. Costco announced it will be raising their minimum pay to $16 per hour – which is great news for Costco employees – however, it’s wage inflation (which we will probably see more of). When wages go up, the cost of goods will follow. Inflation drives mortgage rates higher because of the impact to bonds, like mortgage backed securities. [Read more…]
Mortgage rates trending higher
February 18, 2021 by Leave a Comment
It’s Thursday and that means that Freddie Mac has released their weekly mortgage rate survey: Prime Mortgage Market Survey (aka PMMS). The PMMS is based on an average of conforming rates during the last week…so as soon as the PMMS is released, the data is a week old. The data is good for showing where mortgage rates have been.
Gimme your Best Interest Rate with NO Closing Cost
February 9, 2021 by Leave a Comment
The other day, a Redmond home owner contacted me for a quote to refinance their home. They specifically requested scenarios for “lowest possible interest rate without paying any points or closing costs“. [Read more…]
Mortgage Rates at Record Lows
December 24, 2020 by Leave a Comment
Freddie Mac released the Prime Mortgage Market Survey today revealing extremely low mortgage rates.
Surprise! It’s a strong Jobs Report
June 5, 2020 by Leave a Comment
May’s Jobs Report came in much better than expected this morning with 2.51 million jobs ADDED vs the anticipated the 8.5 million jobs lost. Personally, this sounds too good to be true to me and I’m thinking that we’ll see corrections in the months to come…of course, I hope I’m wrong and that an economic (and health) recovery is here. [Read more…]
Mortgage Rates at Extremely Low Levels
March 26, 2020 by Leave a Comment
Freddie Mac’s PMMS report was released this morning showing just how low mortgage interest rates have dropped during the pandemic. Remember, the Prime Mortgage Market Survey’s rates are last week’s news as they are based on an average of mortgage rates from last week.
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