I cannot believe it’s October, can you? Perhaps it’s our extended summery weather we are experiencing in Seattle. This being the first week of a month means that we have the Jobs Report being released this Friday. The Jobs Report tends to impact mortgage rates as it indicates how the economy is doing and the potential for wage inflation. It is anticipated that 120k jobs were added last month – we’ll see how the numbers pencil out on Friday when September’s Jobs Report is released. Wednesday is loaded with both the ADP National Employment Report and the release of the FOMC minutes.
Mortgage rate update for the week of October 1, 2012
October 1, 2012 by Leave a Comment
What May Impact Mortgage Rates the Week of September 3, 2012
September 3, 2012 by Leave a Comment
Happy Labor Day! Our office is closed today and will reopen for business as usual on tomorrow, September 4, 2012. Here are a few economic indicators scheduled to be released this week which may impact mortgage rates, including Friday’s Jobs Report.
Tuesday, Sept. 4: ISM Index
Wednesday, Sept. 5: Productivity
Thursday, Sept. 6: ADP National Employment Report, Initial Jobless Claims and ISM Services Index
Friday, Sept. 7: The Jobs Report
On Thursday, we may see mortgage rates impacted by Europe following the Central Bank meeting lead by Mario Draghi. Remember, mortgage rates are based on bonds (mortgage backed securities) and when investors seek the safety of bonds over the potential higher return with stocks, mortgage rates tend to improve and vice versa.
If you are interested in a mortgage rate quote for a purchase or refinance for a home located anywhere in Washington state, please contact me. You can also see live mortgage rates I’m quoting on Twitter.
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