Seattle Mortgage Rates Today 8/2/12
Seattle Mortgage Rates Today 8/2/12: “When I said maybe, I meant no.” A couple of days ago, European Central Bank President Mario Draghi said that they will do whatever it takes to keep the union of the Euro. If that meant more stimulus in the form of Spanish and Italian bond buying, so be it. Well, Mr. Draghi hinted at nothing of the sort. Financial markets were affected after the disappointment set in when the ECB decided no action was necessary at this time. They were still in support of bond buying; however, with no concrete plans in place it has been accepted as lip service. Bonds were positively affected but not enough to change mortgage rates.
“Job Market Still Struggling…” When the ADP report was released yesterday reporting a measly 100,000 jobs, there was no reaction form the markets. With the Jobs Report tomorrow, we can anticipate that the read will be a little bit better. Be on the ready to lock as markets will most like react positively with a boost in bonds. The timing for short-term locks may be the best tomorrow as the Jobs Report number may be adjusted lower early next week.
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