Seattle Mortgage Rates Today 3/8/12: Greek debt swap? It looks pretty clear that the debt swap will take place. Not all bondholders are on the same page as losses of 70% are inevitable—lower rates and longer maturity are what Greece is asking for. However, Greece’s debt problems are from over. The debt swap is akin […]
Seattle Mortgage Rates Today 3/7/12: Who needs a job? This Friday, the official Jobs Report will be released. The anticipated report expects the creation of 220,000 jobs in the private sector to compensate for government job losses. The ADP Report has accounted for 216,000 jobs in the private sector which is tight in line with […]
: Rumor has is that the Greek government and bondholders will not be able to meet the deadline on Thursday in regards to the debt swap. Should we see a default, the chances for Spain and Italy to receive aid to assist in mitigating the debt crisis would be compromised. The fear of Greece defaulting […]
Seattle Mortgage Rates Today 3/5/12: Interestingly, we are discovering that the Swiss National Bank and the Bank of Israel, which are highly conservative Central Banks, will be in the market for US stocks in an attempt to increase their investment yields. It’s expected that the Bank of Israel plans to invest a marked amount of […]
Seattle Mortgage Rates Today 3/1/12: What happened after Fed Chair Bernanke spoke yesterday? His testimony in front of the House Financial Services Committee stated that the housing and labor market were sluggish and fragile. Surprisingly, there was no mention of QE3 exacerbating the disappointment of the markets as both stocks and bonds closed lower at […]
Seattle Mortgage Rates Today 2/29/12: What ensued after the ECB’s LTRO? Yesterday’s post mentioned that the first Long Term Refinance Operation (LTRO) administered by the European Central Bank (ECB) was viewed somewhat negatively as it revealed lingering problems. The ECB surprised economists when they dispersed 60B Euros more than the expected 470B Euros that banks […]
Seattle Mortgage Rates Today 2/28/12: Mortgage Bonds are benefitting with the report that consumer goods lasting more than 3 years came in much lower than expected. However, varied news out of Europe is mitigating any significant gains. Reporting for economic confidence for the month of February came in above expectations in the European Union. Superficially, […]
Seattle Mortgage Rates Today 2/27/12: After the G-20 Summit this past weekend, it was decided that the international community will not offer any aid to the European Union. The EU needs to commit its own money in building a necessary firewall to contain the ongoing debt crisis. As the most financially stable country in the […]
Seattle mortgage rates today 2/8/12: Today’s 10yr note auction received a “B+” today. This has helped provide a small improvement to the bonds, but overall mortgage rates remain the same. No economics news is due out for today, so it should remain a pretty quiet afternoon. Greece postponed the debt solution announcement yesterday. Final details […]
Seattle Mortgage Rates Today 2/7/12: Greece’s Government is currently working/negotiating a budget that is needed before March 20, 2012. Greek Prime Minister Lucas Papademos will provide a statement on the outcome of the budget. Depending on the agreement for the aid, this will help or hurt the US bond market. The Treasury auctioned off $32B […]
