December 14, 2017

Seattle Real Estate Mortgage Rates Today 8/30/2011

Seattle / Bellevue Mortgage Rate Watch August 30th, 2011:  Today’s opening showed bonds a bit higher.  After stating he was concerned about the economy and strong accommodation is necessary, Charles “Chuck Wagon” Evans gave a boost to bonds.  With the Euro debt crisis still a looming threat, we should be concerned about the fragility of our economy.  We could find ourselves in a recession should the debt crisis finds its way across the pond.  However, we should give credit to the Fed’s accommodations yet far; Bernanke believes we need the government to step in and offer other fiscal solutions to other structural problems.

In line with expectations, the Case-Shiller 20-City Index was down 4.5% year over year.  However, 19 out of 20 cities—Portland remained flat—did see gains in prices month over month.  That better than expected news pressured bonds to lose the gains made by Evans’ earlier statement.

Let’s see what Consumer Confidence Index (CCI) will bring us this morning.  With recent readings weak, the expected 52 may have a negative connotation.  Stocks may be affected by losing any gains made yesterday.

What will the Fed Meeting Minutes tell us?  So far, statements made by Evans and Bernanke gave no clue about where the economy is going or even what type of action to take.  The debate over another bout of Quantitative Easing (QE3) and the expectation of inflation will be monitored closely by global markets.

On a positive note, the Case-Shiller Index found Seattle with a .7% increase—placing it number 14.

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