Continued and increasing financial distress in Europe has caused the bleeding to spread from Greece to other countries. The US is lacking confidence in a full recovery that has been part of the drop in the Dow Jones. With a 500 point drop in the Dow, this has led to improved mortgage rates.
Seattle Real Estate Mortgage Rates Today 8/3/11
Mortgage bonds holding strong to improve mortgage rates to low levels for 2011. The late stock market rally took away from the bonds leading to a price worsening. Volatility will continue with stocks, future auctions, and economic news.