Seattle Mortgage Rates Today 7/12/12: “Where have all the €uros gone?” The deteriorating economic health of the Euro Zone was quite evident as the European Central Bank (ECB) reduced its main interest rate to a record low of 0.75% from 1%. In order to encourage banks to lend money the ECB also lowered its overnight […]
Seattle Mortgage Rates Today 7/11/12: “If only I had a crystal ball…” Spain has been pressured to accept new austerity measures from EU Finance Ministers that are intended to reduce their deficit by €65BN by the end of 2014. It sounds like an impossible feat, but they have no other choice. With 24.4% unemployment, the […]
Seattle Mortgage Rates Today 7/6/12: “’The sky is falling! The sky is falling!’ said the Jobs Report.” Today’s release of the much anticipated Jobs Report was dismal to say the least. The reported 80,000 private jobs created came in much lower than the expected 105,000 according to last Wednesday’s ADP Report. Exacerbating the dire state […]
Seattle Mortgage Rates Today 7/5/12: “And the results from last week’s European Summit are in!” Concerned with the state of the global economy the European Central Bank (ECB) reduced its rate by 0.25% to a record low of .75%. Following in the ECB’s footsteps was—surprisingly—China whose lending rate was cut down to 6%. The Bank […]
Seattle Mortgage Rates Today 7/3/12: With the markets closing early today there is not much to report. Given the holiday tomorrow, trading will be at a minimum. We will watch out for the Jobs Report on Friday which anticipates the creation of 100K jobs for June. With the track record we’ve seen the past few […]
Seattle Mortgage Rates Today 7/2/12: With Independence Day landing right in the middle of the week, there’s not much to report this Monday. Mortgage bonds did open a tick higher as the European Summit came to a close last Friday. One thing we will be on the lookout for this Friday is June’s Jobs Report… […]
Seattle Mortgage Rates Today 6/29/12: Day 1 of the European Summit in Brussels closed with some optimism. Although German Chancellor Angela Merkel, along with other leaders of Germany, stated that any funds that would be dispersed must have austerity measures attached. However, Euro Zone leaders have reached an agreement that would allow members of the […]
Seattle Mortgage Rates Today 6/28/12: “What will day 1 of the European Summit in Brussels bring us?” There is still much uncertainty in Europe as global investors are losing confidence that a solution will not come to fruition. German Chancellor Angela Merkel continues to be steadfast against a Euro Bond of any sort. With Greece, […]
Seattle Mortgage Rates Today 6/25/12: Due to meet on Thursday, June 28th, the 2-day European Summit in Brussels will attempt to tackle the debt crisis. With the crisis in its 3rd year (my, how time flies), there is concern that the Summit will not produce any results to confront the current crisis. Continued pessimism pushes […]
Seattle Mortgage Rates Today 6/22/12: There is not much to report today that is affecting the markets. Bonds ticked upward yesterday as stocks were sold off due to weak global economic reports. Today, however, we see stocks rallying as the Federal Reserve did not purchase enough of the available bonds. With no news out of […]
