Seattle Real Estate Mortgage Rates Today 7/13/11
Seattle Real Estate Mortgage Rates Today 7/13/11: No major economic reports were set for release this morning. Ben Bernanke was on Capitol Hill with his testimony, China’s growth continues to improve exceeding expectations, and 10 year note auction results are in. How did the market react?
Opening the stock market gained as China’s growth exceeded expectations even with the China’s recent increase in rate. Many believe the market will slow and have negative reaction but this has not happened as of yet.
Bernanke on Capitol Hill stated the US economy will pick up but the employment rate will slowly decrease over time. Many were watching to see IF a QE3 would be announced or mentioned. Bernanke did state “we have to keep all the options on the table; we don’t know where the economy is going to go.” With this statement, the stocks were fueled to gain further today.
The 10 year auction did receive a favorable “B” grade today. Along with auction results and Greece receiving further negative financial news, the bonds were able to hold the gains received. With that said, we again are at one of the better levels for the year for mortgage rates.
If you are considering to take financial advantage of the mortgage rates this year, prepare now! Contact us with specific questions that you have to benefit your real estate financial future.
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