Interest Rate Watch for Seattle & Bellevue Real Estate 9/1/10
Rates are being pressured higher today due to good economic news coming from the ISM/Supply Management Index. Even though payroll reports did not meet market exectations the index showed signs of economic growth and recovery. Wall Street obviously liked the report pushing the Dow Jones 248 points higher. This causes bonds to sell off pressuring interest rates to move higher. With some lenders we have already seen two price changes for the worse today.
This brings again a strong point. Timing will is key. If you are considering refinancing or purchasing it would be highly advised to begin the process and wait for the right opportunity to secure / lock your rate. We are a team of licensed loan originators in Washington ready to answer your questions and offer our services.