Seattle Real Estate Mortgage Rates Today 6/10/11
Seattle Real Estate Mortgage Rates Today 6/10/11: The question of global economic slow down has pressured mortgage rates to move higher at the close of this week. Yesterdays poor 30 Year Bond auction prompted a sharp sell off spiking bond prices higher reflecting in higher rates yesterday. That same pattern is continuing today.
Looking ahead into next week the market will pick volatility right back up Tuesday – Friday. Each day will lead to more chatter about the economy being in a true slow down or if this was just a bump in the road. Any news which shows the economy slowing and if the stock market moves lower it will most likely translate to the bonds benefit. At this time we once again would like caution, rates could possibly move lower, BUT for rates to move lower we would need to see more bad economic data suggesting a slow down, deflation and the double dip recession. For the trends we have seen over the last week…. rates hit their lowest levels Tuesday, since then rates have reversed moving higher. Why? Fears of the economic slow down coupled by the looming question about the U.S. Debt ceiling.
Timing is everything just as location of the home is critical. Timing in securing an interest rate, the 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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