November 24, 2017

Seattle Mortgage Rates Today 3/20/12

Seattle Mortgage Rates

Seattle Mortgage Rates

Seattle Mortgage Rates Today 3/20/12: What is happening in Portugal?  Let’s take a look at where Portugal is sitting assuming reports are correct.  Currently public debt is 107% of Gross Domestic Product (GDP) and private debt is an astonishing 280% of GDP.  Last year the Portuguese economy shrunk by 1.6% and they are on track to contract by 3.3% this year.  Not only will it be impossible for Portugal to pay their current debt but will even be more difficult given the tighter fiscal union rules and annual budget deficit targets.  Inevitably, Portugal’s dire-looking economy will come and bear its ugly head—we just don’t know when.

What is happening in China?  Bonds are getting a boost at the expense of stocks since there is concern once again about the economic slowdown in China.  One thing to consider is the reliability of those reports.  Is China really slowing?  China’s 9% annual growth for the past several years was undoubtedly huge.  However, as the rate of growth slows down to 7%, it will not be detrimental to China. 

Should negative news come out of Europe involving Portugal, then we will see the bond market in an upward trend.  Again, let’s wait and see.

Given the volatility we have seen in the last few days—along with the 3 price changes in mortgage rates today—wouldn’t you agree there is not time to wait?  If you are thinking about refinancing or purchasing your next home, please give us a call and learn what options are available today.

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