Seattle Mortgage Rates Today 10/30/12
Seattle Mortgage Rates Today 10/30/12: There is not much to report today given the catastrophic conditions our friends and family are experiencing on the East Coast. The Fed continues its “open-ended” bond buying while the markets are closed once again. Bonds are also getting a boost this morning as global stocks continue to fall.
Of concern to traders, the New York Stock (NYSE) may remain closed for the 3rd consecutive day tomorrow. Should the NYSE not re-open tomorrow many traders will not have the prices need to value their portfolios at month end. However, should markets re-open on Wednesday, there is trepidation that heavy selling may occur as investors attempt to take advantage of tax benefits from losing stocks at the end of the October fiscal year.
The uptick in bonds are helping prices stay high and rates low and stable. As the debt crisis in Europe continues—it’s far from over—and the uncertainty in the U.S. economy, we could find ourselves with lower rates soon.