Seattle Mortgage Rates Today 4/5/12
Seattle Mortgage Rates Today 4/5/12: With Initial Jobless Claims reported at a 4-year low, the bond market is on an upward trend after falling last Tuesday. With debt fears still lurking in Europe, investors are finding their way back to the safe haven trade giving bonds a boost.
Although the labor department reported that the Initial Jobless Claims fell by 6,000 this week to 357,000 from the previous week’s 363,000, this is somewhat mediocre news. Why is the media hyping it as a 4-year low when 360,000 people are filing for new benefits? Given the time we have been “trying to recover” and jobs not being created, benefits claims are here to stay.
“Next on the chopping block…Spain!” Spain’s Prime Minister, Mariano Rajoy, stated that their economy is facing “extreme difficulty.” What is exacerbating an already strapped economy is that austerity measures are being implemented when Spain needs to lower its budget deficit and pay down its current debt. Again, with plenty of uncertainty, we will see investors back in the safe haven of US Bonds.
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