This is “Jobs Week” with the big daddy being the BLS Jobs Report this Friday.
Stay tuned!
Weekly Mortgage Market Update
March 5, 2024 by Leave a Comment
Mortgage Rate Update for the Week of January 29, 2024
January 29, 2024 by Leave a Comment
This week is packed with market moving events that may impact the direction of mortgage rates, including the FOMC meeting and the Jobs Report. Watch my latest video for more details and please contact me if you are considering buying or refinancing a home.
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…]
How does economic news impact mortgage interest rates?
August 1, 2018 by Leave a Comment
Mortgage rates are based on bonds (mortgage backed securities) and are traded fairly similar as stocks. Investors tend to favor stocks over bonds as stocks tend to provide a better return. However, investors will opt for bonds over stocks when they are seeking safety when markets are tumultuous. When the stock market is on a run, odds are mortgage rates may be moving higher as investors are selecting stocks over bonds. And when the stock market is tanking, mortgage rates tend to improve for the same reason. [Read more…]
Mortgage rates expected to trend higher following the October Jobs Report
November 5, 2016 by Leave a Comment
Yesterday morning, the Jobs Report was released with data for the month of October. The report gave an overall healthy picture of the economy and came in slightly stronger than expected with 161,000 jobs added in October and positive revisions made to August and September. [Read more…]
Mortgage rates remain low following the Jobs Report
September 2, 2016 by Leave a Comment
This morning the August Jobs Report came in with slightly weaker data than expected with only 151k non-farm payroll jobs added.
Yesterday, Freddie Mac released their PMMS report showing the 30 year fixed conventional rate still hanging around (just below) 3.500%.
If you’ve been contemplating refinancing, it could be time to get off your duff! If your home is located anywhere in Washington state, I’m happy to help you. Click here for a no-hassle mortgage rate quote.
PS: Our office will be closed on Monday for Labor Day. I hope you have a wonderful holiday weekend!
Mortgage rates trending higher (still very low)
June 2, 2016 by Leave a Comment
Freddie Mac’s PMMS report was released this morning showing that mortgage rates are trending higher from the 3 year lows.
The Prime Mortgage Market Survey is based on an average of last week’s conforming rates and reports that the 30 year fixed rate averaged 3.66 with 0.5 points for the week ending June 2, 2016. [Read more…]
What May Impact Mortgage Interest Rates this week: January 4, 2016
January 4, 2016 by Leave a Comment
Welcome to my first post of 2016! I hope you and yours had a wonderful New Year holiday.
This week may not seem like there is a lot in store for economic indicators that influence the direction of mortgage rates…however, Friday features this years first Jobs Report.
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