Seattle Real Estate Mortgage Rates Today 6/17/11
Seattle Real Estate Mortgage Rates Today 6/17/11: Kicking the week off we started with great rates carried over from the previous week. Then on economic data of the U.S. fears of inflation once again Spooked the bond market which pressured mortgage rates higher. Problems in Europe being far from over dominated financial new on Wednesday creating a sense of urgency for investors all over the world to seek the U.S. Safe Haven, investing in bonds and instruments like the mortgage backed securities. Which brings us to today. We are right where we started the week with a lot of volatility in the middle. Kind of like a creme filled pastry. THE BIG BUT here is the clear warning that we all must be cautious of. INFLATION. Any indications of inflation have a HUGE IMPACT on mortgage rates. We cleary saw this on Wednesday from the announcement coming from China that inflation was a concern. And through more economic data this week inflation was a concern especially after Ben Bernanke from the Federal Reserve being quoted for inflation being “Transitory”, the stock market was not buying this one.
Moving forward we cannot stress enough that timing is crucial when considering a mortgage, the days of calling around from lender to lender to aquire a rate and then wait to make a decision could ultimately cost you hundreds. We IN NO WAY are discouraging anyone from shopping, but want to stress it is critical that the professional you decide work with understands what is impacting mortgage rates daily. Over 30 years it could cost you TENS of Thousands of Dollars.
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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