What’s the Current Trend in Seattle Mortgage Rates?

Mortgage rates are slightly up today

What’s Happening in Financial Markets?

Is the US economy improving?  Watch the year over year trends as improvements can lead to higher Seattle mortgage rates in the future.  Today the jobless claims are at the lowest level in almost 5 ½ years.  Job hiring is still slow but the important piece is there hasn’t been any signs of potential layoffs.

How Does This Affect My Mortgage Rate?

Positive economic news tends to increase mortgage rates.  Mortgage rates have fortunately remained well below average but timing is key.  Knowing your options NOW is important so when the time is right, you can confidently move forward with a refinance or purchase.

Important example:  Be pre-approved in advance so you can submit the best offer possible when the right home hits the market.  Don’t submit an offer, get into a purchase contract, and then scramble to secure financing.  You will give yourself a headache, unwanted stress, and risk losing your earnest money.

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