November 23, 2017

Seattle Mortgage Rates Today, March 27, 2009

 Seattle Mortgage Rates Today, March 27, 2009

“Calm before the Storm” with major economic data being released and the ruling on Mark to Market accounting, financial institutions, Wall Street and economists all await to see how the market and economy will react.  Many are hedging that the modification will be a positive shift to free up liquidity and allow the banks to begin to lend not only to the mortgage market but to the commercial world.  Why is this so important, in a very scaled back interpretation of economy, if banks are more willing to lend to the commercial world businesses can once again begin to produce more.  With more production returns the need for more positions creating new employment opportunities.  Hitting all to close to home is watching some of your favorite retailers close down because they no longer have lines of credit to be able to purchase product in advance, sell them to the public and then pay back the lines.  These accounts receivables and payables have been frozen for many companies causing to have seizures in their normal operating mode, in result having to layoff or in worst case shut down. 

Interest rates remained steady this week showing signs of improvement on Friday ahead of the economic data being released.  Unemployment will once again rear its ugly head, BUT lets hope that this may be the bottom, it may be premature to make this statement…… well we like to think from the glass is half full mentality.  If history repeats itself from March then we will likely see interest rates test the floor of 4.5% once again, once the new is digested BE CAUTIOUS, rates may once again trickle back above 4.75% as we saw towards mid March.  Maybe this is a generalization to some, BUT we only have patterns that date back to the previous month to base the future on.  History is in the making daily so stay tuned.

UPDATE, UPDATE, UPDATE!!! 105% home affordable loan program soon to be released to the market.  If you are in need this finance opportunity it is important to find out who is currently holding your loan.  Please click on Fannie or Freddie to learn more.

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