December 14, 2017

Seattle Real Estate Mortgage Rates Today 10/4/2011

Seattle Real Estate Mortgage Rates Today 10/4/2011:  What does Fed Chairman Bernanke have to say now? Chairman Bernanke is scheduled to speak to Congress at 7am PST today.  As we all know, the market is always influenced by anything he says; his last speech on September 21st ringed of pessimism and pushed stocks down almost 10% with bonds benefitting from the turmoil.

As for his speech to Congress, there is no hint of Bernanke recanting any of his prior pessimistic statements.  Know this:  The Chairman will be advising Congress to do everything within their power to help the economy move forward.  Regarding monetary policy, the Fed has their hands tied now.

How will Friday’s Jobs Report affect the market?  It comes as no surprise that Bonds are a little lower from previous levels.  With more buyers than sellers, the Bond is “overbought.”  Don’t expect prices to decline as the market attempts to balance itself out.  But as we wait for the Jobs Report, Bonds may plateau shortly from their recent upward pressure.

End of Day Report:  Fed Chair Bernanke addressed Congress regarding the economy and told Congress that they will do whatever it takes to grow the economy.  We saw a volatile market as stocks and bonds saw positive and negative posts.  Again, stocks continued their rise as the European Union Finance Ministers reported that they are searching for ways to assist in the recapitalization of European financial institutions.  The stock market reversed over 300 points late in the trading day with the Dow +153.41

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