Seattle Real Estate Mortgage Rates Today 6/8/11
Seattle Real Estate Mortgage Rates Today 6/8/11: Mortgage Rates received positive news yesterday from a SOLID short term auction of a “B” rating and Ben Bernanke being perceived in his speech as a Dove on Inflation. Just announced todays 10 Year Note auction received another SOLID “B” rating which is helping to boost the bond market again at the best levels of 2011.
Reflecting back to Ben Bernanke’s speech yesterday, the dubbing of “Dove” refers to his stance on inflation. A Dovish stance believes that inflation will have a minimal impact on the economy. Had his comments been perceived as a “Hawk” then the stance on inflation and the impact on the economy would be more severe.
Both are helping the bond market break through a barrier which has held mortgage rates from moving lower. Now with that said we could see the rates move lower as many lenders have opened up pricing with signs of moving lower. BUT this could be very short lived IF the economy is just in a RUT right now OR if it is truly slowing. Media is beating the dead horse right now with speculations and it is taking its toll on the stock market which has also pressured monies to be moved into longer term securities like bonds. And speaking of long term, tomorrow we will have the 30 year bond auction which will be VERY closely watched. Should it receive a solid “B” rating or better then we could see the momentum needed to push mortgage rates lower. Stay tuned we will of course bring you the news.
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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