December 14, 2017

Seattle Mortgage Rates Today 7/12/12

Seattle Mortgage Rates Today 7/12/12: “Where have all the €uros gone?”  The deteriorating economic health of the Euro Zone was quite evident as the European Central Bank (ECB) reduced its main interest rate to a record low of 0.75% from 1%.  In order to encourage banks to lend money the ECB also lowered its overnight deposit rate to 0.00%–which means that central banks receive zero for depositing cash at the ECB.  As a result, Euro Zone central banks returned funds to their respective accounts; however, there were no indications that banks would lend money or purchase bonds to assist the economy.

In other parts of the world there is evidence of slowdown.  Australia reported job losses in June which reveals signs that they, too, may be in need of a stimulus plan.  In order to mitigate economic slowdown, South Korea implemented a rate cut as well.

The unrelenting global uncertainty and the slow economic recovery in the US continue to affect mortgage bonds.  The release of the Fed Minutes for the month of June reported weak data; however, it was not weak enough to implement another round of easing.  We are “on the fence” regarding easing as the US is improving, but only slightly and not suffering enough to induce the Fed into QE3.

As the season of home buying is upon us, 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.

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(206) 219-3088

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