top of page

Rate Update for 3/8/2024

Writer's picture: Lloyd White Jr. NMLS 119465Lloyd White Jr. NMLS 119465

Updated: May 24, 2024


Interest rates dropped this week on mixed economic reports. Today’s Jobs Report had a headline number, way better than expected (bad for rates), but there were massive revisions to the numbers reported in December and January.

The overall unemployment rate also rose to 3.9%. There has been a trend lately of massive revisions to previous months numbers, and this creates some uncertainty in the markets as to the accuracy of the initial numbers being released.

 

Next week should be a huge week for mortgage rates as the monthly CPI report will be released on Tuesday morning. A lower CPI number than expected should drive rates lower, while a higher number than expected will cause rates to rise.

 

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.

 

Today’s Rates for the Home Advantage Down Payment Assistance Loan with the WSHFC.  I am a Commission-trained Loan Officer authorized to work with the WSHFC.  I’m happy to meet with your clients to see if they are eligible for the Home Advantage program or any of the other down-payment assistance programs available with the WSHFC.



 

Mortgage News Daily fixed rate index for 3/8/2024

30-year Conventional – 6.85%

15-year Conventional – 6.39%

30-year Jumbo – 7.22%

30-year FHA – 6.38%

30-year VA – 6.40%

 

15 views0 comments

Recent Posts

See All

Comments


Summit Mortgage Corporation NMLS 3236. Information is not guaranteed and should be verified. Licensed in CA by the Department of Business Oversight. Loans will be arranged or made pursuant to the California Financing Law. Questions and concerns may be directed to support @go-summit.comNMLS Consumer Access www.nmlsconsumeraccess.org. Not all applicants will qualify. ClarkCountyLoanPro.com and LloydWhite.com is a division of Summit Mortgage Corporation. Lloyd White, Jr. is licensed to originate loans in ID/OR/WA/CA. Equal Housing Opportunity.

©2019 by Lloyd White, Jr.

bottom of page