Seattle Real Estate Mortgage Rates Today 2/28/2011
Seattle / Bellevue Real Estate Mortgage Rate Watch: No Auctions! We have a week off from the crazy volatility. The Crisis in the Middle East continues to dominate news in the financial world as everything is being impacted by the questions surrounding OIL and how it will impact the U.S. recovery. It is clear now on the 13th day that the U.S. Safe Haven has benefitted bonds & mortgage rates. The question now turns to what happens when the crisis settles and investors once again move back overseas. Only one direction, UP. Why? As Investors move their positions back over seas and shift partially out of Oil, they once again return to their investment strategies, which at this time are not holding U.S. debt/bonds. PLUS, the BIG PLUS here is that economic data continues to come out positive only fueling the arch enemy of bonds & mortgages, INFLATION.
Inflation is very apparent here on a local level. Using my own family outing this weekend we visited our favorite PHO restaurant. We ordered our regular meals only to find there was no LIMES, what is this a LEMON? LEMON and PHO don’t mix well, at least for our taste buds. I asked the owner who was there why there were no LIMES, he replied that the cost was too high and if they were to serve LIMES they would have to raise prices. He also went on to comment that the cost may be going up soon due to the rising costs of the ingredients to make my favorite bowl of noodles. SAD. We even saw the prices this weekend at the grocery store. Even Yogurt has increased. This proves that OIL has impacted the costs of everything. Growing speculation that OIL will only rise in the second half of 2011 will bring higher prices to you and I. OUCH!
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