Seattle Real Estate Mortgage Rates Today 1/5/2011
Bellevue / Seattle Real Estate Mortgage Rate Watch: Big news! ADP jobs report this morning revealed 297,000 jobs created in December over the 100,000 expected. The highest reading since the report was created in 2000. Cheers to a recovering economy. Too early to celebrate BUT what this does mean to HomeOwnership is that rates will gradually continue to rise over time. The heavily debated Quantitative Easing 2 may be working and it will bring future inflation.
What this really does trigger is the home buyers who were sidelined waiting for the BOTTOM, well the BOTTOM as far as interest rates was here and left back on NOVEMBER 4, 2010. So if the rates are really climbing – GRADUALLY from here then we are already past the BOTTOM of rates. This will trigger the buy up market just like it did in 2002. Though it may not seem obvious as far as numbers it will clearly be visible on the financing side as we speak to buyers and their reasoning for buying now. Same home today that has not moved much in price costing more because of rising rates.
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