What’s the Current Trend in Seattle Mortgage Rates?

Seattle mortgage rates are slightly improving today

What’s Happening in Financial Markets?

This week, the Fed minutes will be released

How Does This Affect My Mortgage Rate?

Seattle weather was great for the holiday weekend, we hope everyone enjoyed the holiday weekend, with friends and family.

The Fed minutes will be released this week and it will be important to see the direction of QE3.  As planned another reduction of $10B will start at the end of the month leaving a grand total of $35B left.

Currently mortgage bonds are trading up against a ceiling at 102.12.  Definitely need positive news this week to break this ceiling and see a further improvement in mortgage rates.  We need the improvement in rate to recover from last week’s beating.

As Seattle real estate remains hot, we highly recommend planning in advance.  Start with a pre-approval to take action with a winning offer.

Have a great week!

MR Team