Seattle Mortgage Rates, 4/25/19
Stocks continue to bounce off of record highs, helped by strong corporate earnings. Money moving from bonds back into stocks can continue to pressure rates higher.
New home sales hit a year and a half high in March, boosted by home prices and lower mortgage rates. It was the 3rd straight monthly increase for new home sales.
Existing homes sales, which make up about 90% of sales, aren’t doing as well. Sales fell 4.9% in March.
After seeing mortgage rates increase slightly, mortgage applications volume was down last week 7.3%. However, that still 6.6% higher than a year ago.
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