Seattle Real Estate Mortgage Rates Today 3/1/2011
Seattle / Bellevue Real Estate Mortgage Rate Watch: How much money do YOU owe if big government said YOU have to help pay off the National Debt? WAIT not just adults, MEN & WOMEN, every single CHILD also……. Ready….. $45,300. Disgusting! I am not okay with that.
Tensions in the Middle East are far from over but investors may have shifted out of the U.S. Safe Haven’s by translating Libya restarting OIL production to supply Russia & China. We continue to mention that any shifts in sentiment from investors to move funds out of the United States will come at a price, directly impacting Bonds, Treasuries and Mortgage RATES.
Congress & Ben Bernanke meeting today to discuss the National Deficit which represents $45,300 to you, more than the average annual income in the United States. FREAKISH! Here is what even more concerning. The U.S. is about to MAX out their Credit Card. Yes that is right, the limit for the National Debt is $14.3 Trillion and looking at the National Debt Clock we are at $14.1 Trillion, where is the collections company when you really need one. No PUN intended but the collectors are going to start lining up…. Investors are now questioning can the U.S. honor the debt and repay it?????? Great Question….. BIG GOVERNMENT can we get an answer???? Well this is what congress and the divided Republicans & Democrats need to figure out, SOONER THAN LATER! Here is why and how it will impact HOUSING.
If investors do not feel that the U.S. has a plan moving forward to control its debt then they will flee just like what happened in Greece in 2010. This would send Treasury & Bond yields sharply higher, which would also cause rates for home mortgages to spike. Slowing the housing recovery and as we all know the housing market is directly tied to the U.S. economic recovery. This would NOT BE good for the U.S. Big GOVERNMENT…… WAKE UP…. set aside the differences and create a plan…. THE WORLD IS WAITING.
Another interesting fact. China has been a big supporter purchasing the debt of the United States. Originally it was thought that China purchased $892 Billion of the U.S. issued debt. BUT as it turns out they purchased $1.16 Trillion through brokers in Britain and under the U.K. This is both interesting and good news. Interesting because China has a personal interest to purchase our debt to keep their YUAN low against the Stronger U.S. DOLLAR. This makes their Chinese exports very cheap for those in the U.S. which supports the economy of China. Smart move… Yes… Good for us How? IF China was not there to purchase the debt in 2010 MORTGAGE RATES would have been higher than they were.. WHY? Because….. they came in to purchase the debt which kept yields low, low yields translated to Low MORTGAGE RATES. This relationship with China is very important but at the same time very fragile. Only time will tell how this all will play out.
Well… that was one of our longer posts but all relative to HOME MORTGAGE RATES and fact for home owners. Please share todays post with your networks as it does create an opportunity for everyone to educate themselves further on what is happening in our economy and its impacts on home ownership.
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Seattle / Bellevue Real Estate Mortgage Rate Watch: How much money do YOU owe if big government said YOU have to help pay off the National Debt?