Seattle Mortgage Rates Today 5/30/12: The European Commission—the executive body of the EU—is requesting the EuroZone should assist banks directly as opposed to leaving each country responsible for their own recapitalization. Given Germany’s resistance, the Commission is in favor of a Euro Bond to aid in containing the crises. Time is not on their side; […]
Seattle Mortgage Rates Today 5/29/12: Spain’s dire state of uncertainty endures as debt yields continue to rise. Given that there is no type of bank guarantee for deposits, attempting to recapitalize the banks has been difficult. To compare, in the US, should a bank hold a minimum of 5% of non-performing loans against its capital […]
Seattle Mortgage Rates Today 5/25/12: “Euro bond-age für Frau Merkel?” In order to contain the crisis in the EU, there is some gossip that German Chancellor Merkel may be convinced to create Euro bonds. If Euro bonds are issued other Euro Zone countries like Greece, Portugal, Spain and Italy, would subject the citizens of Germany […]
Seattle Mortgage Rates Today 5/24/12: “Contain the contagion.” Germany continues to stand ground on the mandated austerity measures and will not advocate the issue of a Euro bond to mitigate the crisis in Greece. However, there seems to be some positive sentiment that EuroZone officials will take charge and attempt to contain the contagion from […]
Seattle Mortgage Rates Today 5/23/12: “Next on the chopping block, Greece!” Unfortunate words were uttered yesterday as the former Prime Minister of Greece, Lucas Papademos, stated that the “Grexit” is quite possible. As the drama unfolds, Greek citizens will continue to withdraw their Euros unless the European Central Bank steps in and announces they will […]
Seattle Mortgage Rates Today 5/22/12: “Whatcha talkin’ ‘bout, Alexis?!” Uncertainty continues to prevail in Greece as the country will have another attempt at electing a new government come June 17th. Alexis Tsipras, the leader of Syriza—the anti-bailout constituency—is on the rise. This radical left-party believes Greece can reject the terms from the EU government regarding […]
Seattle Mortgage Rates Today 5/21/12: “Grecian Formula?” With not much news—good or bad—coming from Europe, we may see equities positively affected in the near term. As of late, leaders in the EU are now articulating that Greece should remain in the Euro as negative unintended consequences may rear its ugly head. Will the citizens of […]
Seattle Mortgage Rates Today 5/18/12: There is not much to report about today except for the highly anticipated Facebook IPO. It opened higher than expected—about 25% higher. Mortgage Bonds are slightly affected as stocks move higher with the release of the IPO. In addition, given that the drama in Europe has calmed and no national […]
Seattle Mortgage Rates Today 5/17/12: “Hey, Greece, is this what purgatory feels like?” Still with no unified government, Greece is in political purgatory. The opposition between The New Democracy, the pro-bailout constituency, and Syriza, the anti-bailout party, continues to divide the country. News that select banks in Greece will not receive funding any longer from […]
Seattle Mortgage Rates Today 5/16/12: “Greece, get it together!” Yesterday in Berlin, German Chancellor Merkel and French President Hollande met for the first time. Not surprisingly, if Greece can unite, Hollande and Merkel stated they would mull over measures that may spur growth. The citizens of Greece desperately need to vote in a government that […]
