Seattle Real Estate Mortgage Rates Today 6/2/11
Seattle / Bellevue Real Estate Mortgage Rate Watch: Continued weak economic news yesterday, strengthened bonds to allow for a mortgage rate price improvement. Analysts, news reporters always state the negative such as the US economy is heading into a “Depression” but this helped bonds improve as well. We currently stand 70bps above the floor of support with yesterday’s reports. This is a huge gain, but has the potential to pull back. Is today the best day to secure your home loan rate? Contact us!!
Today is a different story, the bonds and stock market are currently trading but near flat levels. Reason why is the anticipation of the jobs report tomorrow. Today’s initial jobless claims were just over the expectation. Claims were at 422,000 with the bar set at 413,000, so this lead to a small decrease in the bond strength.
Tomorrow’s jobs report outlook is pretty weak. Expectations were set at 185k jobs created with 220k private sector jobs. The estimates have now been downgraded to 169k jobs with 180k private sector jobs. Continued weak economic news can help boost the bonds, improving rates, but at this current level there is more to lose at this point. Do you lock or wait? Please post comments below or connect with us on Facebook.
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