November 23, 2017

Seattle Mortgage Rates Today, April 3, 2009

Seattle Mortgage Rates Today, April 3, 2009

April Fools, the Depression is over! Of course it is! We were/are (debatable) in a severe recession. With the passing of the modification to the Mark to Market accounting rule the financial sector finds a much needed boost in confidence. Interestingly enough less than three weeks ago one of the largest banks in the United States was pleading it would need another $180 billion to stabilize itself. On the heels of the modification adjustment the same banks make a public statement that they would like to return the once needed T.A.R.P. funds, then announcing to the public that it would begin to offer Portfolio (held and serviced by the bank) Jumbo loans. AMAZING? Not so much. For over a year there has been a heated debate that the Mark to Market accounting rule needed to be addressed. Now that it has been done many analysts are calling it the possible turn in the economy and to go as far as saying that it will go down in history as the turning point in the economy. With all of this said and done how did it impact lending and rates. UP OR DOWN?…………………. with little surprise the markets held or even worsened slightly. Another round of unemployment showed that the bottom for jobs is still not here, normally creating a slide on Wall Street but having little affect. In fact Wall Street held closing over 8,000.

Where will rates go? We still hear these ads of 4.00% is coming, media saying rates dropped to another historical low. STOP PLEASE, enough is enough! YES rates are BELOW 5% in the 4.0% RANGE not 4.0%! Translating to reality what we have been saying this whole time, just under the 4.75% mark and still testing the floor of 4.5%. Here is a key point to keep in mind as we move now into the peak real estate selling months this summer. If the economy does actually show signs of hope to a economic recovery rates may begin to react along with that glimmer of hope. Slowing taking a bumpy ride up. Why we say slowly is because there is still money set aside from the Federal Reserve to stabilize the interest rates. However there will be days where rates will volatile, this is still the norm. Timing as we have also been saying is key. Waiting as a “Fence Sitter” at this point has no advantages.

  • FACT rates have not dropped below the floors this year or in 2008.
  • FACT there is no indication that there is a market being purchased by the Federal Reserve to drive rates lower, at least as of April 3, 2009.
  • FACT over $1.2 trillion has now been set aside by the Federal Reserve to purchase / heavily invest in mortgage backed securities and the rates have not gone lower.
  • FACT two consecutive months of significant unemployment reports and rates have not gone lower.
  • FICTION rates going lower, we will not make that bold of a statement, but this paints a clear picture as of right now there may not be much more news or efforts to push rates lower.

    In closing we want plant a seed in all current and future home owners mindsets. With all the government has done to stall our further fall into a economic depression they have flooded the markets with money being printed fresh off of the presses. Many analysts believe that inflation will once again return in the near future. We all know what inflation can do and how it is a brutal reminder at the gas pumps. This is why it is a strategic time to reduce your out going expense on your largest and most valued investment, your home. Prepare yourself for the future so it does not hit as hard on the pocket books. With rates most likely remaining around these lows for the next two quarters timing is key. There is a sense of urgency building if the word of inflation continues to grow.

    Stay tuned as the home page will have even more valued added information under the professional corner as we launch the “Evolution of Home Ownership” we are so excited to bring this to all of our viewers. Also with so much media attention on LOAN MODIFICATIONS we wanted to make sure to bring value and options to homeowners, this is why we sought out and created a partnership with local professional to break down the ways to accomplish a loan modification, most importantly what to watch out for and some basic steps. There are many viable options and also just as many schemes.

    Thank you again for viewing and please help us spread the word to as many people as you know. We are growing our viewer base at a mind blowing speed and we thank everyone for finding value in TheMortgageReel!  We are gaining viewer from across the United States!

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