Seattle Real Estate Mortgage Rates Today 8/22/11
Seattle Real Estate Mortgage Rates Today 8/22/11: News on Qaddafi impacting Seattle Real Estate Mortgage Rates: Safe Haven trade of the U.S. Bonds & Equities took a hit today as the global market translated good news coming from the Middle East as the reign of Muammar Qaddafi may be coming to an end. As mentioned in many posts on the Mortgage Reel, Domestic or Global news which brings certainty of any kind can trigger a sell off in the Safe Haven trade which will impact mortgage rates directly as seen today. Mortgage Rates opened and closed the day with signs of a increasing pattern.
HOWEVER the market here in the U.S. is on high alert for the anticipated speech from Ben Bernanke this Friday in Jackson Hole, Wyoming. Rewind to this time last year Big Ben Bernanke made comments to the likelihood of Quantitative Easing 2 which sent the stock market in a buying frenzy and triggered what turned out to be a spike rates over the weeks to come. The question the stock market is stewing over, will there be a QE3 or some form of it? If BIG BEN does not deliver what the stock market is wanting to hear Mortgage Rates may benefit and be pressured lower. Not diving to a new record low, but more in the form of where they currently are but with the option to have reduced closing costs so borrowers would benefit on low rates and low closing costs. That is a win win for sure.
The pattern for the last 72 hours shows Mortgage Rates are being pressured higher. We of course will keep you posted.
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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