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Rate Update for 3/1/2024


This week, the PCE report was released and the results were “as expected”, this corrected the slight raise in rates from earlier in the week. There are a couple important reports coming out over the next 2 weeks that will make a definite impact on what direction the Fed decides to take monetary policy and rates.  First, the big jobs report comes out next Friday, March 8th.  The following week, the February CPI report will be released Tuesday, March 12th.

 

The next Federal holiday isn’t until Monday, May 27th in observance of Memorial Day.  All Federal, State, and County offices will be closed. There will be no fundings or recordings on this day. Our office will be closed as well. 

 

Appraisal Turn Times:  Vancouver/Portland Metro Area:  4-6 days;  Cowlitz County:  6-8 days;  Lewis County:  7-9 Days;  Skamania County:  8-10 days.

Mortgage News Daily fixed rate index for 3/1/2024

30-year Conventional – 7.08%

15-year Conventional – 6.57%

30-year Jumbo – 7.38%

30-year FHA – 6.57%

30-year VA – 6.57%

 

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