Seattle Real Estate Mortgage Rates Today 3/28/2011
Seattle / Bellevue Real Estate Mortgage Rate Watch: Lack of News from Japan and the Middle East has investors moving out of the U.S. “Safe Haven” trade. This is pressuring rates higher at moment. The 2 year note auction this morning at 10:00 AM PT reported with C+ ratings Not Good / Not Bad, not enough to make the market react favorably. As we have been discussing about the “Safe Haven” trade, which has been the driving force to push rates lower in March. However since Japan’s earthquakes and Tsunami, bonds and rates have been pressured higher to the same levels we saw when the violence in the Middle East erupted. Now consider that the markets have now factored these events into the Bonds and Mortgage Backed Securities, what can push them lower. The Euro Uncertainty???? Possibly. BUT until that story unfolds attention will once again return to the U.S. economic recovery. For now concerns over Deflation are part of the past. With every economic report and data released, the bond market will key in CLOSELY on how this is impacting inflation and almost as a guarantee Mortgage Backed Securities and Bonds will NOT react well. If you are ever in doubt tune into CNBC for 10 minutes after a U.S. economic data report is released. They will talk about the impacts of Inflation the ENTIRE time.
Timing is everything just as location of the home is critical. Timing in securing an interest rate, BEST rate, is working with a mortgage professional who has their pulse on the market and when best to advise and educate their clients when timing is right. Along with this key knowledge is to be on top of all of the lending and underwriting changes which seem to almost happen daily. We at the Mortgage Reel are Licensed Washington Loan Originators, serving clients with transparency, knowledge and most importantly keeping your goals in mind. How can we assist you today?
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