Seattle Mortgage Rates Today 11/13/12: Coming out of the holiday weekend, there is not much to report given the lack of economic data this week.  Bonds continue to be supported by news of the fiscal cliff.  With uncertainty of surrounding the fiscal cliff, the President is pushing for bi-partisan support for a solution as tax hikes and spending cuts would take effect on January 1^st, 2013.

Fears surrounding Greece’s debt crisis continues to plague the headlines.  German Chancellor Angela Merkel has stated that Greece should stay in the EU but will ensure that losses for German taxpayers will be mitigated.  Opposite of euro zone finance ministers’ push to extend debt-lowering target dates to 2022, the International Monetary Fund’s (IMF) Chief, Christine Lagarde, insists that the 2020 target should remain.  Some finance ministers have proposed writing some of Greece’s debt in order to assist the recovery.  Germany adamantly disagrees.