What May Impact Mortgage Interest Rates this week: January 4, 2016

MortgagePorter-JobsReportWelcome 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.

[Read more…]

What May Impact Mortgage Rates this Week: May 18, 2015

mortgageporter-economyMortgage rates have been seen more volatility over the last few weeks than what we’ve experienced in quite a while. Mortgage rates have been trying to trend higher.

Here are some of the economic indicators that are scheduled to be released this week:

[Read more…]

Freddie Mac report reveals lowest mortgage rates of 2014

Every week, Freddie Mac releases their Prime Mortgage Market Survey (PMMS) based on a survey a mix of 125 lenders on what committed mortgage rates and points were during the previous week. Based on Freddie Mac’s report, the average rate for a 30 year fixed rate mortgage averaged 3.80 percent with an average 0.6 points. This is down from last week when it averaged 3.93 percent. A year ago at this time, the 30-year averaged 4.47 percent.

Freddie_Mac_Rate_Dec_18

[Read more…]

What May Impact Mortgage Rates this Week: December 8, 2014

mortgageporter-economyMortgage rates trended higher on Friday following the much stronger than expected Jobs Report which even included positive revisions for the two previous months. Weak economic news coming from Europe and China are helping bonds (like mortgage backed securities) improve this morning. Mortgage rates continue to be around 18 month lows so this could be a good time to review your current mortgage to see if refinancing makes sense. You can start the new year off with a lower mortgage payment and more money in your pockets!

[Read more…]

What May Impact Mortgage Rates this Week: December 9, 2013

mortgageporter-economyThis week’s calendar of economic indicators is very light compared to last week. Here’s what is scheduled to be released this week:

[Read more…]

What May Impact Mortgage Interest Rates this Week: October 7, 2013

mortgageporter-economyAs the government shut down continues, Congress has the debt ceiling the contend with by October 17, 2013, or our country will lose the ability to borrow. It almost seems “subprime” to me that our country has to continue to increase the amount of funds we borrow because our country went out to dinner and two glasses of wine (as President Obama explained it in a speech last week). Mortgage rates continue to be at lower levels. Once the government is back to work and the debt ceiling issue is resolved, in my opinion, we may see mortgage rates pop up.

[Read more…]

What May Impact Mortgage Rates this Week: August 19, 2013

mortgageporter-economyI hope you are having a wonderful summer. Our Seattle summer has been just beautiful – I don’t even mind the few days of rain we’ve had sprinkled in. Anyhow, you’re not reading this post for a weather report, are you? Let’s get back to what may impact mortgage interest rates this week! Today and Tuesday, we don’t have any economic indicators scheduled to be released. Wednesday is the big day with the minutes from the last Fed meeting being released.

[Read more…]

What may impact mortgage interest rates this week: June 17, 2013

On Wednesday, we’ll have the results of the Fed Meeting which is sure to influence mortgage rates as traders wait for clues as to what the Fed plans to do with quantitative easing. It is not anticipated that the Fed will make any changes to the Fed Funds rate at this meeting. Ben Bernanke will be holding a press conference on Wednesday following the Fed Meeting.

Here are some of the economic indicators scheduled to be released this week:

  • Monday, June 17:  Empire State Index
  • Tuesday, June 18: Building Permits; Consumer Price Index (CPI); Housing Starts
  • Wednesday, June 19: the FOMC Meeting
  • Thursday, June 20: Initial Jobless Claims; Existing Home Sales; Philadelphia Fed Index

Remember, mortgage rates are based on mortgage backed securities (bonds) and when the stock market is rallying, mortgage rates tend to deteriorate as investors will trade the safety of bonds for the potentially stronger return found with stocks. The reverse is also true.

Want more details? Check out this week’s issue of Mortgage Market Guide Weekly.

If you would like me to provide you with a mortgage rates quote for your refinance or purchase for a home located anywhere in Washington state, where I’m licensed, click here.