Seattle Real Estate Mortgage Rates Today 10/28/11
Seattle Real Estate Mortgage Rates Today 10/28/11: After a punishing Thursday with the Dow up over 300 points, investors are taking the profits for the weekend. This morning bonds are up higher as the stocks sell off and investments are placed in the conservative bond market.
Again the European markets announced they have an enormous financial plan to support the distressed countries. BUT….How confident are investors with this plan? So confident money will flow back into the European markets? Would you be? NO! Each time positive news is announced for Europe mortgage rates suffer. Even if the news is an assumption, a maybe, an idea the bonds suffer and it hurts mortgage rates. The days when investors realize the European struggles are far from over; money will flow back into the US bond market. Overall improving mortgage rates.
Inflation is the bond killer, but reports today show inflation is under control. That is great news and a positive outlook for today!
Next week is action packed with the Fed Meeting Tuesday and Wednesday. The jobs report is on Friday so continue to follow and contact us with questions.
Many real estate owners have asked about the HARP changes, more details should be announced on November 15 but stay tuned as we might have inside updates to provide.
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