Seattle Mortgage Rates Today 10/2/12
Seattle Mortgage Rates Today 10/2/12: “Well, it’s about time Spain!” Upbeat news out of Europe should be pressuring bonds lower; however, the Federal Reserve’s Quantitative Easing 3 continues to purchase bonds and keep them stable. Spain is on the verge of accepting a bailout form the European Central Bank. Expectations of the bailout pushed global shares upward positively affecting the Euro. The budget proposal made by Spain last week seemed to incorporate a bailout furthering the idea that a bailout was imminent.
Although there is not much to report today, this Friday will bring us the Jobs Report. What can we expect? Nobody knows how that will affect the market since the Jobs Report has been revised lower every month.
Again, a locking stance is recommended as bonds continue to hold ground.