Seattle Mortgage Rates Today 10/17/12
Seattle Mortgage Rates Today 10/17/12: Housing starts for the month of September reflected a 15% jump of 104,000 better than the expected 768,000. Since mid-2008, this was the swiftest pace in housing starts. The Commerce Department’s report also showed that housing is adding to the positive outlook in the economy. However, do note that the inventory of unsold homes is large and housing starts are about 60 percent below the peak in January of 2006.
Although Moody’s did not lower Pain’s debt rating today, they did advocate a bailout; this is negatively affecting bonds this morning. Spain is in a predicament—if they receive bailout funds from the European Central Bank, mandated austerity measures would put more pressure on her citizens. So as Spain sits quietly and find herself in deepening crisis, Germany will have no choice except to promote a bailout. The longer Spain holds out, the better for Spain as Germany and the EU countries may offer some leniency in additional austerity measures.