The Home Affordable Refinance Program (HARP) has been available to homeowners but the limitations on the program did not benefit all homeowners. Over the years HARP has been extended and slightly modified. Starting March 19, 2012 further modifications have been put into place for homeowners that have not been able to take advantage yet. Harp […]
Seattle Mortgage Rates Today 3/20/12: What is happening in Portugal? Let’s take a look at where Portugal is sitting assuming reports are correct. Currently public debt is 107% of Gross Domestic Product (GDP) and private debt is an astonishing 280% of GDP. Last year the Portuguese economy shrunk by 1.6% and they are on track […]
Seattle Mortgage Rates Today 3/19/12: “No News is Good News…” With no news to report this morning, bonds remain unchanged today. At the end of last week, bonds were on a slightly upward trend. Looking at the week ahead, there is not much on the economic calendar to report on. This should give mortgage bonds […]
Seattle Mortgage Rates Today 3/16/12: Volatility? Mortgage Bonds continue their downward trend from the last few days. As Europe seems to be settling down somewhat, safe haven trade has been lifted—pressuring the selling of bonds with stocks benefitting. Again, with no hint from the Fed regarding QE3, bonds will continue their falling trend. As we […]
Seattle Mortgage Rates Today 3/14/12: Is the economy improving? Following yesterday’s Fed Policy Statement the knee-jerk reaction by the markets reflected a worsening in rates midday. When speaking of the economy, the Fed admitted that there is an improvement to many areas; however, the housing market was not included. Should this inclination of improvement continue […]
Seattle Mortgage Rates Today 3/13/12: It’s Fed Day…what say you? With the Federal Funds Rate staying put at 0-.25% for the next couple of years, we need to pay attention to the Fed’s Policy Statement. What we need to listen for are hints of a possible quantitative easing (QE3). The Fed’s are walking a fine […]
Seattle Mortgage Rates Today 3/12/12: What say the Fed tomorrow? The Fed discuss two items tomorrow—Monetary Policy Statement and Interest Rate Decision. Obviously, there will be no change in the Fed Funds Rate given the economic climate. However, we need to pay attention to any indication that quantitative easing may take place (QE3). A few […]
Seattle Mortgage Rates Today 3/9/12: Another Grecian Bailout? After private investors of Greek debt were enticed to excuse more than 100B Euros of debt, there was a sharp drop in the Euro. Investors “agreed” to the to the debt forgiveness as the Credit Default Swaps were put into place; if Greece defaults on the bonds, […]
Seattle Mortgage Rates Today 3/8/12: Greek debt swap? It looks pretty clear that the debt swap will take place. Not all bondholders are on the same page as losses of 70% are inevitable—lower rates and longer maturity are what Greece is asking for. However, Greece’s debt problems are from over. The debt swap is akin […]
Seattle Mortgage Rates Today 3/7/12: Who needs a job? This Friday, the official Jobs Report will be released. The anticipated report expects the creation of 220,000 jobs in the private sector to compensate for government job losses. The ADP Report has accounted for 216,000 jobs in the private sector which is tight in line with […]
