August 22, 2017

Seattle Mortgage Rates Today 12/4/12

Mortgage Rates Seattle

Mortgage Rates Seattle

Seattle Mortgage Rates Today 12/4/12: Until the White House and Congress come to an agreement, the Fiscal Cliff debate will be the headliner.  Investors continue to keep a watchful eye on the debate; their position has seen stocks fall today.  A Republican deficit-reduction proposal was turned down by President Obama since it did not include an increase of tax revenue from the wealthiest Americans.  Republicans continue to push for revenues and spending cuts in order to reduce the deficit. However, President Obama does not believe it is enough to put a dent in the deficit.  Should we “go off the cliff,” a poll reflects that most Americans would blame Congressional Republicans.  The epic debate worry is negatively affecting the economy.  Many economists believe that the U.S. could see another recession should Bush-era tax cuts end on December 31st.  In any case, bonds are benefitting from the futile exercise.

“Are lower rates on the horizon?”  Since implementing the Quantitative Easing 3 which included the Fed’s purchasing of Mortgage Backed Securities (MBS) to the tune of $40B per month, The Federal Reserve is questioning lenders why lower interest rates are not trickling down to consumers.  The range between what investors are banking and the interest rates consumers pay continue to widen.

With no deal in sight, bonds will definitely remain high.  However, any rhetoric about nearing a deal, expect the market to react.  Lock if you must, especially before any deal has been met.

 




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