Seattle Real Estate Mortgage Rates Today 3/24/2011
Seattle / Bellevue Real Estate Mortgage Rate Watch: Concerns in the Euro topping financial media and the stock market. Uncertainty continues to grow over Greece, Ireland and Portugal all part of the Euro and their abilities to repay or face default. Portugal yesterday attempted and failed to shore up their budget which led to the resignation of the Prime Minister, Jose Socrates. If the Euro shows more signs of weakness this may pressure investors into the U.S. “Safe Haven” which would help to pressure Mortgage Rates lower. But, before making any statements of low rates, we need to keep in mind that rates may not be able to move much lower from these levels. The situation in the Euro in not nearly as volatile as what recently happened in Japan. The Safe Haven trade of the U.S. will help if the Euro does unravel, the difference, the stock market can build this in because it is expected. Where the Natural disaster in Japan was UN-expected.
Yesterday, the Feds buying of bonds at the tune of $7.5 Billion was not nearly what was needed to keep Wall Street happy because of the supply of $32 Billion for sale. The lack of buyer sent the bonds sharply higher yesterday in early trading hours which pressured rates higher. We still have not recovered from yesterday losses and rate changes.
Timing is everything just as location of the home is critical. Timing in securing an interest rate, BEST rate, is working with a mortgage professional who has their pulse on the market and when best to advise and educate their clients when timing is right. Along with this key knowledge is to be on top of all of the lending and underwriting changes which seem to almost happen daily. We at the Mortgage Reel are Licensed Washington Loan Originators, serving clients with transparency, knowledge and most importantly keeping your goals in mind. How can we assist you today?
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