September 25, 2017

Seattle Mortgage Rates Today 8/1/12

Seattle Mortgage Rates Today 8/1/12:  Today the Fed released their Monetary Policy Statement.  In true Fed form, no hint of any easing was even hinted at.  We were anticipating some easing in the form bonds—mortgage bonds.  But that did not happen.  How did the market react?  Well, let’s just say that the bonds suffered with midday price change for the worse.  The next Fed meeting on September 12th may be more telling as the Fed is waiting to see what the European Central Bank (ECB) is going to do to mitigate the crises across the pond.

Mario Draghi, President of the ECB, insists that they will do everything in their power to maintain the Euro.  What does that mean?  Draghi supports the buying of Italy and Spain’s debt to contain the unsustainable yields.  As yields continue to rise, those countries will lose access to funding and may need a full-on bailout.  Something needs to get done and it needs to be soon.

The ADP Jobs Report was announced and was higher than the 125,000 that was anticipated.  The Jobs Report will be released Friday and that number was expected to be around 95,000.  If the Jobs Report is better than expected, bonds will be positively affected at the expense of stocks.  Get ready to LOCK your rate!

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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