August 24, 2017

Seattle Real Estate Mortgage Rates Today 8/23/11

Seattle Real Estate Mortgage Rates Today 8/23/11: Mortgage Bonds continue to drift lower after witnessing a bearish Double Top Reversal Pattern last week.  With the Fed Chairman Ben Bernanke’s speech this coming Friday, stocks are rallying higher.  What’s the Fed got to do?  Stock prices continue to drop along with a slumping economy, some anticipate that the Fed will do or say something that will show confidence in the markets.  Perhaps the Fed may be willing and able to help to ensure market stability.

Also in anticipation of the Fed’s announcement on Friday, gold has unbelievably hit its high—near $1900/ounce. However, gold may give up some of the gains from recent days as the last rally may be over-extended. 

Though Treasury yields are at historic levels, more supply will hit the market today.  The Treasury will unload $35 billion in 2-year notes—which is about a third of the total of $99 billion this week.  Let’s see if the market will accommodate this offering…

Of note: This time last year, Bernanke talked about QE2.  Then in November (2010), QE2 was implemented.  Watch this Friday if there is even a mention of QE3.  Should the Fed mention anything about a QE3, it may trigger inflation; inflation = bad for bonds = bad for rates. 

Remember, the day after QE2 was announced; mortgage interest rates spiked a half-percent (.5%) on November 3rd, 2010.




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