December 11, 2017

Seattle Real Estate Mortgage Rates Today 7/15/11

Seattle Real Estate Mortgage Rates Today 7/15/11: Suspense, frustration and debate continue to loom over the White House as congress is still divided on the debt ceiling increase. Clearly it must be raised but there must also be a plan in place. Moody’s bond rating firm continues to pressure the U.S. government with challenges in the AAA rating. This is extremely important to our economic recovery. Can you imagine if the U.S. lost its AAA rating and bonds sold off sending yields higher. We would see mortgage rates instantly climb and housing come to a screeching halt over concerns that would arise globally of a potential default in debt. NOT GOOD right.

President Obama clearly frustrated as he walked of the congressional meetings between the two parties earlier this week. But let’s not forget what impact the Federal Reserve has. Big Ben Bernanke held his Q&A with congress this week also, reminding them that a plan is crucial to the economic recovery. The Fed continues to be on stand by to do what it takes to keep the economy moving in the right direction, but many have asked how can we spend our way out of a recession. QE3 at least has been silenced for now. BUT after today’s reading on the Consumer Price Index which showed yet again that inflation is ticking higher questions the statements of the Federal Reserve that inflation is still “Transitory”. For us the consumers we can only wait to see what happens.

Rates started slightly higher then ticked lower Wednesday, Thursday and Friday. As more news comes of the Debt Ceiling it will boil down to Wall Street, have they already built in the passing or will it tick higher. If Wall Street moves higher it will come at the expense of bonds. Also once passed….. will Moody’s change their opinion or will they continue to question the rating of our ability to repay our debt. This will all have impact on mortgage rates.

To close out this week we finally have some people in Congress and the Federal Reserve opening their eyes and seeing what damage all of the recent regulation has done to slow mortgage financing. Some of the legislature did the exact opposite of what they intended to do, protect the consumer. It actually penalized them with higher costs and fees. IT NOW SEEMS…. that they have over regulated the industry and causing unintended turn downs because of rules that MAKE NO SENSE. We may have our opinions of the system, but one thing is clear that it has had some negative impacts and those are now being addressed. Bottom line for all current and future home owners this is good news.

We will be back to cover more for you on Monday!

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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