September 21, 2017

Seattle Real Estate Mortgage Rates Today 6/16/11

Seattle Real Estate Mortgage Rates Today 6/16/11: With concerns about the Greek debt crisis and worse than expected US economic reports, stocks were negatively affected yesterday giving bonds a boost.  This morning, however, bonds are volatile; going from flat then positive in no time at all.  Although initial Jobless Claims data and news about the housing sector were decent, the market is definitely on edge.  Any additional news about the current state of Greek debt may cap any significant gains in stocks for now.

There is flicker of hope as Housing Starts and Building permits were higher than expected.  Housing Starts rose 3.5% in May to 560,000 (annualized)—20,000 over what was expected.  Building permits reached their highest level this year with a 9% jump to 612,000—well above the expected 548,000.  However, the housing sector, as a whole, continues to dampen the economy.

Although Initial Jobless Claims fell 16,000 to 414,000, they are still above the 400,000 line.  This is the tenth week over 400,000.  Continuing Jobless Claims fell by 21,000 bringing it to 3.68 million.

For now, we recommend floating; please note that the volatility of the market is high and any reaction can change very quickly, indeed.

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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