Seattle Mortgage Rates Today 11/26/12: Greece is yet again in the headlines as the International Monetary Fund (IMF) and Euro zone finance ministers meet in an attempt to “unfreeze” another round of bailout funds.  Greece is in dire need of the bailout funds to pay approaching debt obligations.  Some say that some of Greece’s debt obligations need to be forgiven in order for the country to move forward and maintain a debt level that’s manageable.  Countries, such as Germany, oppose such action.  Can the citizens of Greece handle deeper cuts?  With over 25% unemployment and life-altering salary cuts, more protests and uprising is sure to ensue.

With not much time left this year, US lawmakers continue to struggle with a bipartisan deal in tackling the fiscal cliff issue.  January will see huge tax increases and deep government spending cuts should an agreement not be made.  Congress had 22 months prior to come up with a plan; once again, procrastination wins and we can expect a last minute agreement.

Although mortgage bonds are better and remain relatively unchanged after the holiday weekend, there are many reports this week that may be market-altering.