Seattle Mortgage Rates Today 4/30/12
Seattle Mortgage Rates Today 4/30/12: “Propera víctima de la recessió … Espanya! / The recession’s next victim…Spain!” Once again, negative sentiment coming from Europe is pushing bonds just a bit higher today. The European Union’s 4th largest economy, Spain, has officially announced that it has entered its 2nd, yes, that’s right folks, its 2nd recession since the beginning of the financial crisis. There is much doubt that Spain will be able to fight this one off as banks attempt to recapitalize. Newly implemented austerity measures, exacerbated by a ridiculously high 24% unemployment rate and deteriorating housing prices, all add up to one long recession.
“Jobs! Jobs! Jobs!” First up this week comes Wednesday for the ADP report which reports jobs gains in the private sector. The following day we’ll learn of the Initial Jobless Claims. However, we need to pay close attention to Friday’s Jobs Report. Jobs expected to be created: 162,000. Given the most recent data reported, which has been reported below par, will most likely be analyzed by the markets. Should a report with less than expectations reveal itself, which we anticipate, the idea of Quantitative Easing 3 may be on the horizon. Bonds would be positively impacted and rates would improve. So far, bonds have been holding steady for the past 11 weeks.
As we begin the season of home buying, are you prepared to make on offer on that house you just viewed? Is your offer strong enough to entice sellers? WE ARE THE PURCHASE EXPERTS! By working with The Mortgage Reel Team—unlike the big banks—be assured of an on-time 30-day closing! Contact us today and receive a same-day pre-approval.