Seattle Mortgage Rates Today 5/23/12
Seattle Mortgage Rates Today 5/23/12: “Next on the chopping block, Greece!” Unfortunate words were uttered yesterday as the former Prime Minister of Greece, Lucas Papademos, stated that the “Grexit” is quite possible. As the drama unfolds, Greek citizens will continue to withdraw their Euros unless the European Central Bank steps in and announces they will guarantee all deposits. Other troubled EU countries such as Spain and Italy, are experiencing the same troubles. Spain’s banks are in dire need of recapitalization; should Greece find its way out of the Euro, the citizens of Spain may find themselves extracting euros from banks, too. With time running out, the ECB needs to make a decision quickly.
“Another bout of recession in the US?” With overall US debt climbing we are approaching the 16 Trillion mark. The government needs to take some measures to address our annual budget deficits. However, being this an election year, it seems as if the government is sweeping other important decisions under the proverbial rug.
Again, rates are still at historical lows; as more of the Eurodrama plays out the safe haven trade in US bonds continue.
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