December 14, 2017

Seattle Mortgage Rates Today 1/14/13

seattle mortgage ratesSeattle Mortgage Rates Today 1/14/13:  U.S. bond markets opened a bit higher this morning on news that Japan may begin a program purchasing foreign securities which would include U.S. Treasuries.  The Japanese Yen (¥) fell slightly on word that the Bank of Japan approved a monetary stimulus program last week to the tune of $117 billion (¥10.433 trillion).

Now that the fiscal cliff issue has been averted, news headlining out of Washington concerns raising the limit on the debt ceiling.  While President Obama has been pressing to raise the ceiling, Republicans are demanding spending cuts equal to any increase of debt limit.  While Obama has agreed to discuss ideas to reduce the budget deficit, he was also transparent that the discussion should be separate from the debt ceiling limit increase.

With such pressing issues at hand and continued monetary easing, rates will most likely remain stable for the next few weeks.  Validating the idea that rates will remain low, Chicago Fed Reserve President Charlie Evans stated that the Fed is not likely to increase rates in the near future, perhaps not until sometime in 2015.



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