Seattle Mortgage Rates Today 9/4/12
Seattle Mortgage Rates Today 9/4/12: With not much to report today, this will be short. Last week, Fed Chair Ben Bernanke announced that another round of quantitative easing was imminent. However, we just don’t know when. That sentiment gave markets a boost –including mortgage bonds. Well, those mortgage bond gains have diminished slightly on word that Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA), declared another increase to the Fannie Mae and Freddie Mac guarantee fee which builds in risk. As the cost for borrowing continues its climb higher, it is closer in price where private capital can vie for the loans.
Market-altering news this week will be on Thursday. Mario Draghi, European Central Bank President, will announce his decision on bond buying for Spain and Italy as well as rates. We can only wait and see what this does to rates…
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