Seattle Real Estate Mortgage Rates Today 3/3/2011
Seattle / Bellevue Real Estate Mortgage Rate Watch: Jobless Claims Lower, Signs of Improvement in Employment, Peace Talks in Middle East & the Fed Beige Book. RECIPE for market mover in rates. Lets begin with the Fed Beige book yesterday. The insight of it was INFLATION is rearing its ugly head which is the arch enemy of bonds. Immediately after Mortgages reacted and moved slightly higher. Today at the market open Jobless Claims reported better than expected. This coming off of a Better than expected Jobs Creation report from the Private sector, meaning non government jobs. Again another positive. Quantitative Easing 2 not being scaled back by the Federal Reserve and $600 Billion being fully deployed into the economy by the end of June 2011, which will stir the INFLATION concerns. AND peace talks coming from Libyan and Arab Leaders in the Region. This all pressures the mortgage market. Especially any news in the Middle East, good news will cause Investors Monies in the “Safe Haven” of the U.S. to move back over seas. This will gradually pressure rates higher because this has played a big part in rates recently moving lower over the last three weeks.
Tomorrow we move into the Unemployment Report which may once again be a market mover, it is anticipated that it may tick higher but with news coming from Job Creation and Jobless Claims Lowering the market may shrug it off anticipating upcoming months to be more upbeat.
We will be back tomorrow with more news. Join our Facebook page and join the conversation on How to Beat the Banks on your Home Loan.