June 22, 2017

Seattle Real Estate Mortgage Rates Today 7/21/11

Seattle Real Estate Mortgage Rates Today 7/21/11: Will they ever get it right. It feels like Big Government is out to recess playing games. We have a deal, no we don’t, it is close, no it is not. Who has the ball, what ball? Who’s on First and the saying goes on and on. That is about how volatile the news makes mortgage rates at this time. This coupled by signs of the Greece bail out becoming a little stronger has money moving OUT of the Safe Haven trade. Keep in mind, the Safe Haven trade of the U.S. has benefited mortgage rates as money flows in to pressure yields and rates lower. Today funds moved out ticking mortgage rates slightly higher.

What we are hearing on the streets. Activity in the resale market in the Seattle & Bellevue market is still happening daily. Yes there are your Negative Nellies as we have nick named them but we are still seeing continual activity. There is one thing in common amongst buyers. They have an idea where the market is but the process of buying a home is more of an emotional drive that is not tied to the news. It is about a need to start a foundation for a relationship, a new job, a change in life style. Whatever the case it IS NOT going away as media portrays that everyone is going to rent a home.

This is very exciting as positive signs of the real estate market in our area. Media has no way to find information like this out because they do not have relationships with these types of industries. In the Seattle & Bellevue greater east side market companies are hiring. We work with a relocation company that is “Crazy” right now. Several companies are looking ahead into 2012 & 2013 projecting growth and in turn hiring. This is contradicting yes to the national averages but this is what is happening locally. Facebook moving into Seattle, Boeing winning contracts, Microsoft beating market expectations. All local companies which are creating more job opportunities in our LOCAL market. This has its direct impact on our LOCAL economy.

The housing market, recessed yes, no argument, but here is another point that media does not make. When recessions of the past the high end housing market suffered.  The the first signs of a recovery came from the first time home buyer market that has really never died in our LOCAL market. Now lenders are opening back up to financing JUMBO loans, which are above $567,500 with rates that are no longer 3% higher than conforming loans. In fact JUMBO loans are within .50% or less in many situations of a conforming loan interest rate. Mortgage insurance companies are back in the markets which have created lending opportunities which in many cases are better than an FHA loan.  The lending market continues to thaw out which we were begging for in 2007 & 2008.

POINT?  We are in a slow recovery but looking at our local market we have a lot to look forward to and be thankful for.  The economy is NOT as depressed as it is in many parts of the country. Media will continue to blame the debt ceiling for everything until they can sell the next debacle, but we are basing our opinions off of what is happening here, directly in our LOCAL market which is still ALIVE.

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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