Seattle Real Estate Mortgage Rates Today 5/16/11
Seattle Real Estate Mortgage Rates Today 5/16/11: After last weeks bond performance, Mortgage Rates have been unable to improve further. Currently bonds have reached a ceiling of resistance. As you can see on the bond chart if the bonds are unable to break through the ceiling and show consistent improvement rates do not have the room to move lower. It would appear we are at the best levels currently of 2011. The key factor may come from the decision of Congress to increase the debt ceiling of $14.3 Trillion. BUT at what cost. The two items being debated by both parties, to raise taxes or to cut spending. The happy medium is probably a little of both. But if tax cuts and spending are indeed in the future, the fate of the economy improving may start to dim. Further if the economy does move into a slower growth and recovery then bonds will favor.
Rates being this low comes with great timing as our local housing market sales are in their peak season and from what professional realtors are saying on the Real Estate Reel, the market is picking up.
Timing is everything just as location of the home is critical. Timing in securing an interest rate, BEST rate, is working with a mortgage professional who has their pulse on the market and when best to advise and educate their clients when timing is right. Along with this key knowledge is to be on top of all of the lending and underwriting changes which seem to almost happen daily. We at the Mortgage Reel are Licensed Washington Loan Originators, serving clients with transparency, knowledge and most importantly keeping your goals in mind. How can we assist you today?
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