Seattle Real Estate Mortgage Rates Today 5/10/11
Seattle / Bellevue Real Estate Mortgage Rate Watch: Mortgage Rates are now testing the waters. The question is can they improve and continue the rally we are currently on OR will the reversal be triggered as sentiment on Wall Street is the bond market is overbought. There is no economic data to be released today, however there is a Treasury auction set for 10:00 AM PT of $32 Billion in 3 Year Notes. This is critical to set the tone for long term auctions to come later this week. The positive is in the recent strength in the U.S. dollar being driven by further concerns in Europe. Positive auction results in the auction may reflect this sentiment of investors.
Small Business Owners are not feeling the economy is moving forward just yet as a report from the National Federation of Independent Business fell to a seven month low in April. This comes from Oil costs being so high resulting in higher costs of goods and consumers not spending. Small Business Owners make up a large portion of the Job Market and without them hiring the job market will continue to be sluggish. NOTE we touched on this yesterday. A slow economic recovery may play to the benefit of bonds which may keep interest rates low. TIMING could be VERY beneficial for our real estate market as we are entering into the peak season for home sales.
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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