Seattle Mortgage Rates Today 12/6/12: “The sky is falling! The sky is falling!” Republicans and Democrats continue their fiscal cliff fight blaming each other in order to gain some leverage. Republicans incited Democrats with rhetoric regarding the debt ceiling to further their influence with their fiscal cliff counter proposal. Although President Obama and House Speaker Boehner spoke on Wednesday, there was no inkling of any progress as neither of them had any statements to make. Congressional Democrats’ and President Obama’s position reflects tax cuts extended for taxpayers with incomes under $250K and increase for those over $250K. However, Republicans insist on keeping those cuts for all.
Today, stocks and bonds remain relatively unchanged in light of the “epic saga” known as the fiscal cliff debate. Also keeping investors at bay is tomorrow’s jobs report. It looks like numbers will come in less than expected; that will most likely find bonds unchanged or slightly higher. Let’s wait and see…
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