Seattle Real Estate Mortgage Rates Today 1/7/2011
Bellevue / Seattle Real Estate Mortgage Rate Watch: MORE JOBS REPORTS: Numbers below expectations. Labor Department reported 103,000 below 150,000. Private Job Growth 113,000 below 162,000. Bad right…….. SURPRISE!!!! The Unemployment Rate MOVED DOWN from 9.8% to 9.4% and Media is having a hay day with the numbers. This would have sent rates higher as it is good news for the economy, BUT the EURO still continues to show signs of UNCERTAINTY and with UNCERTAINTY investors seek a “Safe Haven” which is the U.S. Bond market. This is causing yields to lower and RATES to lower also. HOWEVER this can and will be short lived as investors will only remain until they see signs of stability in the EURO, then once again those funds will leave the U.S. bond market sending yields higher and RATES higher.
Time to create an action plan if you are refinancing or purchasing this year. Timing will be KEY.
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