Seattle Real Estate Mortgage Rates Today 9/6/11
Seattle Real Estate Mortgage Rates Today 9/6/11: What is going on this week, you ask? Within this short week, President Obama will give his jobs speech on Thursday. Thursday happens to be the beginning of the NFL football season. Timing couldn’t have been any better with the attention of millions of viewers 90 minutes before the kickoff. People are looking for President Obama to do something good this week, especially after last week’s dismal employment report.
What’s of importance here is that President Obama’s speech will be spoken to a joint session of congress. We should expect something big from him since he usually speaks to a joint session of congress at the State of the Union speech. There are high market expectations and the President needs to offer something tangible in the near future to build overall confidence.
There is general conjecture that the President may announce that the current budget for infrastructure will be increased. Does this type of spending really make it down into the economy? Yes, but a little too slowly. While the thought of a million workers ready for construction of infrastructure is great, the truth is that many projects never come to fruition and cost overruns abound.
If stocks respond positively to the President’s speech, we may see stocks rally higher at the expense of bonds. This is even with already high expectations.