Seattle Real Estate Mortgage Rates Today 2/23/2011
Seattle / Bellevue Real Estate Mortgage Rate Watch: Crisis in Middle East continues to dominate news, impacting gas and mortgage rates locally. As the world watches the Crisis in the Middle East escalate especially in Libya. We as a dependent country on OIL cringe as gas is being pressured higher by the minute. Today OIL broke $100 per barrel. This will definitely have an impact on inflation as everything will rise from food to durable goods.
Right now the U.S. Safe Haven for global investors are the beneficiaries as bond yields continue to lower which is having a positive impact on mortgage rates. This could be looked at as an opportunistic time to take advantage of interest rates. It is becoming more clear on a daily basis that INFLATION will once again impact mortgage rates in the near future. The U.S. Safe Haven is only temporary, once things settle money will flow back to foreign markets pressuring bonds to move higher. This clearly is an indicator that rates right now are still TEMPORARY. HOWEVER there is still ONE THING looming that may bring rates back down to the 4.50% mark. THE WALL STREET pull back that many are speculating. If the market is poised for a sell off then BONDS would be the beneficiary and would pressure rates lower. BUT with an improving economy, as fragile as it is, money will once again flow back to Wall Street and ONCE again Rates / Bonds will pressure higher.
We will continue to keep a close watch on this and bring you the news as it develops.
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