Seattle Mortgage Rates Today 5/16/12
Seattle Mortgage Rates Today 5/16/12: “Greece, get it together!” Yesterday in Berlin, German Chancellor Merkel and French President Hollande met for the first time. Not surprisingly, if Greece can unite, Hollande and Merkel stated they would mull over measures that may spur growth. The citizens of Greece desperately need to vote in a government that would be steadfast to the mandated austerity measures that were previously agreed to in the initial bailout. Don’t expect the European Central Bank to “power up the presses” and print more money to buy bonds. That’s not what Merkel and Hollande intend when considering growth measures; they intend to approach Greece with proposals to assist the country. However, none of this can happen if the citizens of Greece cannot come together and vote for a unified government. Greece’s debt woes run deep; what more can be done to mitigate their fallout from the Euro? Although the situation continues to be uncertain, an inkling that the EU is open to additional support for Greece is giving a bit of confidence to global investors at the ever-so-slight expense of bonds.
The minutes from the April 25th Fed meeting will be released today. What do we need to pay attention to? Should we hear nothing of QE3, the reaction to bonds remains uncertain. We may see a knee-jerk reaction in the market with bonds negatively affected.
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