Seattle Real Estate Mortgage Rates Today 10/6/2011
Seattle Real Estate Mortgage Rates Today 10/6/2011: Jobs, Jobs, Jobs, all eyes are on the Jobs report tomorrow. Most of the market has already built in what the jobs report may reveal. Most are expecting the report to be non eventful at best. But to note we are entering a cyclical time where retail may begin to hire towards the holiday season. This happens every year and may not represent actual growth in the employment sector.
Mortgage rates are being driven more by global news over any domestic news. Any news coming out of the Euro has Bond Traders reacting heavily. Good news in the Euro has the safe haven trade selling off which in turn pressures Mortgage Rates higher.
It is clear now that there will be no major changes to short term rates by the Federal Reserve which holds true to their statement that rates will remain low for a “prolonged period of time”.
We are going to have a great video post up shortly talking about “the lowest historical mortgage rates”, yes we have seen the lowest rates of all time this year, HOWEVER it is not happening daily or holding everyday. In fact we have only seen the lowest rates of 2011 for about a 30 hour period at best. Then with trading and news it moves higher once again.
There are many cyclical signs appearing which may pressure rates higher through the end of the year and through most of the first quarter before we can see Mortgage Rates move lower.
We will break this all down in our next video segment.
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?
Join the Conversation on Facebook, just click on the banner on the homepage and it will take you to our Facebook page, “How to Beat the Banks on your Home Loan” Like us when you visit and post any comments or suggestions. We want your feedback.
