Seattle Real Estate Mortgage Rates Today 6/23/11
Seattle Real Estate Mortgage Rates Today 6/23/11: As announced yesterday, the Fed Funds Rate remains unchanged. Leaving this rate as is, was pretty much expected as the economy sits in a slow economic recovery pace.
Inflation is always the enemy for the bonds. Current inflation is close within guidelines but if inflation does increase, this can quickly and negatively impact the bond market. If the bonds prices are weakened due to the future forecast of an increase with inflation, expect consumer mortgage rates to increase.
Unemployment is slowly recovering at a slower pace than anticipated. The initial jobless claims report today was at 429,000 with expectations at 413,000. If the Government does help with job stimulus, this can also be a potential increase with inflation as well.
Overall Seattle / Bellevue local mortgage rates have received a small improvement that will make a difference with a pricing. As a huge tip: mortgage rates have reached the low for 2011 four times so far this year. Each time the market has NOT been able break this low level and the market has always pulled back with an increase in rate. If you are on the short, you may consider locking in today to secure the price improvement. All scenarios are unique so please contact us!
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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