Seattle Real Estate Mortgage Rates Today 2/4/2011
Seattle / Bellevue Real Estate Mortgage Rate Watch: Shocking news from the Unemployment Rate falling to 9.0% from Novembers 9.4%. The biggest news we are following for home ownership comes upon the statements from Ben Bernanke and the Federal Reserve yesterday. With the Unemployment rate lowering before the full injection of Quantitative Easing 2 $600 Billion, brings serious questions if it is necessary. The Federal Reserve has used the Unemployment Rate as one of its main indicators of the deployment of QE2.
What is even more interesting is the WALL STREET GAMBLE on when the Federal Reserve will HIKE the Fed Funds Rate to control INFLATION. Just as of Monday of this week the reading was only a 52% chance of a HIKE in January. As of Today it is now a 100% CHANCE! This is critical of anyone GAMBLING on the future of interest Rates. The future of interest rates is grim to reduce and fueled by economic data to move gradually higher.
This puts the interest rate of 4.00% seen in 2010 in the history books and for those who took action a winning golden ticket. BUT don’t fret, HISTORICALLY we are still in low rates. Keep in mind in 2007 we were pushing the mid 6.00% levels.
What will bring rates down? Question we receive daily from viewers……. Wall Street Pull BACK, if the Down Jones takes a slip and pulls back to the 10,000 level we could once again see the rates dip lower, BUT it will be for a short period of time. Mostly it will come from Profit taking, but as the economy shows improvement once again money will flow back to Wall Street like it has done. At least this is our crystal ball. (Who knows)
What we have to focus on is bringing you the best information and education that we can to keep you as informed as possible and be a part of the housing recovery. Have a great weekend.
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