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.
Mortgage Rates Remain at Historic Lows
February 20, 2020 by Leave a Comment
Freddie Mac released their weekly Prime Mortgage Market Survey this morning showing that mortgage rates continue to be extremely low.
There are many factors that are causing mortgage rates to remain this low, including increased concern over the coronavirus. Hopefully the virus is contained soon…once that happens, we may see rates return to a more normal level. Also, with this being an election year, if a Democrat is elected to be our next President, we may see mortgage rates move higher.
Mortgage rates are subject to change…in fact, the mortgage rates posted from Freddie Mac’s PMMS report are an average from last week. Please click here for current mortgage rates based on your personal scenario.
Bottom line, rates are at three year lows making it a great time to refinance or if you’re in the market, buy a home. Most of my clients are dropping their monthly payments significantly which helps them pay off debts or build up savings. If your home is located anywhere in Washington state, where I’m licensed, I would love to help you with your mortgage!
Mortgage Rates continue to DROP
January 30, 2020 by Leave a Comment
Freddie Mac released their weekly mortgage rate survey showing that mortgage rates have continued to drop are at record lows. [Read more…]
Special Mortgage Interest Rates
October 19, 2019 by Leave a Comment
Last night on Facebook, I saw an ad for a builder’s lender promoting “limited time opportunity special interest rate” when you purchase one of their new homes. This was being shared by a Realtor whom I’m “Facebook Friends” with. I decided to price out this “special rate” and proved that the rate, while very low, is actually not so special.
Mortgage Interest Rates at Historic Lows
September 5, 2019 by Leave a Comment
Freddie Mac released their weekly mortgage interest rate survey showing that mortgage rates have continued to trend lower.
Tomorrow we have the Jobs Report being released which tends to impact the direction of mortgage rates as it’s an indicator of inflation. Inflation is the “arch enemy” to bonds, like mortgage backed securites, and therefore tends to drive mortgage rates higher. Stay tuned!
Freddie’s PMMS is based on an average of mortgage rates from last week‘s applications for purchases with 20 percent down with excellent credit. Being the rates shared in this report are from last week, they are technically “expired” as mortgage rates change constantly – sometimes several times a day…especially in volatile markets. The PMMS is a great tool for seeing trends and where mortgage rates have been. It’s not a good tool for where rates are “right now”.
If you would like to know where mortgage rates are right now based on your personal scenario for a refi or purchase for homes located anywhere in Washington state, I’m happy to help you!
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