Seattle Mortgage Rates Today 10/4/12: In anticipation of Friday’s Jobs Report mortgage bonds opened slightly lower this morning. Weekly initial Jobless Claims were 2,000 more than the expected 365,000 but lower than economists’ expectations of 370,000. U.S. Firms’ layoffs were almost 5% higher in September coming out of August. The labor market continues to struggle […]
Seattle Mortgage Rates Today 10/3/12: “Will the Jobs Report affect mortgage rates?” Preceded by Friday’s Jobs Report, the ADP Report reflects private sector job growth. According to the ADP, private sector jobs came in at 162,000—almost 30,000 above the expected 133,000. We shall take that information with a grain of salt. Why? For the past […]
Seattle Mortgage Rates Today 10/2/12: “Well, it’s about time Spain!” Upbeat news out of Europe should be pressuring bonds lower; however, the Federal Reserve’s Quantitative Easing 3 continues to purchase bonds and keep them stable. Spain is on the verge of accepting a bailout form the European Central Bank. Expectations of the bailout pushed global […]
Seattle Mortgage Rates Today 9/28/12: “Where’s the money?” In order to appease the European Union and receive an approval for the 2013 austerity measures, Spain’s Prime Minister Mariano Rajoy, dipped into the €52 Billion ($67B) pension fund to the tune of €3 Billion ($3.87B). With regional elections on October 21st, Rajoy’s choice in “stealing” form […]
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Home prices in the Case-Shiller 20-City Composite increased 1.6% from June to July. This is the third consecutive month that all 20 cities recorded increases. Year-over-year the 20-city composite index is up 1.2% and 16 of the 20 cities have seen yearly increases. Seattle is continues to make the Chart!!!!
Seattle Mortgage Rates Today 9/27/12: Despite some disappointing economic reports, mortgage bonds are trading lower following nearly a week of gains. Alarmingly, Durable Goods Orders—items expected to last more than 3 years and a good indicator of manufacturing—came in at -13.2%. Yes, that’s a negative 13.2 percent. This reading is nearly 3 times worse than […]
Seattle Mortgage Rates Today 9/26/12: “Is this all a dream…?” Incredibly, mortgage bonds continue to soar as negative sentiment out of Europe continues to worsen. Further mandated austerity measures in Greece fueled nearly 70,000 rioters to the Greek Parliament. Spain is back in the news with unrest in the capital of Madrid. Mariano Rajoy, Prime […]
Seattle Mortgage Rates Today 9/25/12: Another glorious day for bonds as they reach record highs since the implementation of Quantitative Easing 3. The Fed’s money printing seems to be working as they buy mortgage bonds with such rapture that there is more demand than supply. But it’s not all wine and roses… As the Fed […]
Seattle Mortgage Rates Today 9/24/12: As negative sentiment regarding Greece’s debt crisis reveals itself, mortgage bonds reach all-time highs. The European Central Bank (ECB), the International Monetary Fund (IMF), and the European Commission, referred to as “The Troika,” have been analyzing Greece’s ability to meet its current targets in reducing their deficit. Greece is due […]
