Seattle Real Estate Mortgage Rates Today 12/13/2011
Seattle Real Estate Mortgage Rates Today 12/13/2011: What’s happening today? Today the members of the Fed will convene for the Federal Open Market Committee Meeting to discuss monetary policy. With the current economic state, there is no intention of raising the Federal Funds Rate which is currently at 0%-.25%. Obviously when discussing the economy, the policy statement will be scrutinized for any conjecture regarding inflation. Let’s wait and see…
The policy statement identified in the last FOMC meeting (11/1-2) stated “economic growth strengthened somewhat in the 3rd quarter, reflecting in part a reversal of the temporary factors that weighed on the growth earlier this year.” Since the last meeting, we have heard that economic data has been on the positive side; we anticipate the oratory to be interesting in today’s meeting. With positive economic reports, we may see the Feds suspend the idea of QE3 in the near future. The perception of QE3 has furthered bonds recently; again, we will wait and see what this meeting holds today and those in the next few months.
Will rates be on the rise? Members at today’s FOMC meeting may also deliberate about the purchasing of Mortgage Backed Securities (MBS) in an effort to stabilize the housing market. However, that information will most likely be included in the meeting minutes released later in the month. Speculation concerning rising rates may come earlier than mid-2013.
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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