Seattle Mortgage Rates Today 1/15/13: “And the uncertainty starts…now!”  Mortgage bonds are getting a slight boost this morning as concerns over the debt ceiling come to light.  Talks with Republicans were rejected yesterday by the President.  Republicans insist that any increase in the deb celling must be matched with dollar for dollar spending cuts with Medicare and Medicaid being the most affected.  Once again, the White House and the Republicans may be at yet another impasse.  Should no deal be reached raising the current $16.4 trillion ceiling, the U.S. may default on its current debt obligations.  Perhaps another down grade is looming on the horizon.

Until a deal is reached, riskier assets such as stocks will be pressured downward.  Bonds will be the beneficiary of such action.  Hold tight and cautiously float the rate as there may be an opportunity in the next couple of days.