Seattle Mortgage Rates Today 4/27/12
Seattle Mortgage Rates Today 4/27/12: “Uh-oh, this doesn’t look good.” The final GDP reading in the 4th quarter of last year was sitting at 3%. The release of the advanced GDP reading for the 1st quarter of 2012 came in 0.3% lower than the expectations at 2.2%. Also revealed in the report was that personal consumption expenditure inflation rose 2.4%. We did not see a pace of inflation this fast since the 2nd quarter of 2011. An upward trend in inflation and continued slow growth is exacerbating the current state of the economy.
“Spiraling US debt concerns…?” Yes, we have a slow-growing economy. Yes, we have a ton of fast-growing debt. As we see the debt crisis in Europe continue to unfold, our government needs to be cognizant of their escalating problems. Perhaps we need to take control of the annual deficit and total debt. What we’ve seen thus far regarding all of the spending to boost the economy is nothing—nothing has been put in place to generate income over the long-term. But know this: For every dollar that is spent, the debt service is $0.42. Guess who’s paying for that? Yep, you guessed correctly-we are!
“You’d better watch out!” If the government does not illustrate to the world that they have a plan in place to reduce debt and take control, we will experience some pain in the future. Should we continue on this road with no plan, we may see the government denied future credit as the bond market may show signs of low confidence that debt can be repaid.
As we begin the season of home buying, are you prepared to make on offer on that house you just viewed? Is your offer strong enough to entice sellers? WE ARE THE PURCHASE EXPERTS! By working with The Mortgage Reel Team—unlike the big banks—be assured of an on-time 30-day closing! Contact us today and receive a same-day pre-approval.