Seattle Mortgage Rates Today 11/28/12
Seattle Mortgage Rates Today 11/28/12: The Fiscal Cliff debate continues to plague headlines here in the U.S. Yesterday, Senate Majority Leader Harry Reid stated that very little headway has been made regarding the fiscal debate. Today, House Speaker John Boehner was confident that Republicans and Democrats would come to an agreement and mitigate the upcoming mandated austerity measures beginning next year. Republicans say they are willing to raise revenues only if the Democrats were willing to implement spending cuts. While some negotiating has been underway, both parties are at odds on how to shrink the current budget deficit. Along with President Obama’s idea to raise taxes on the wealthy, surprisingly, some CEOs have declared support for higher taxes.
Update: Mortgage bonds have moved lower in response to positive talks surrounding the Fiscal Cliff debate. Stocks, which were down 100 points this morning, have now closed 100 points higher. Market reaction to fiscal cliff rhetoric reflects high volatility.
Alert to lock your rate; however, if you have some time, wait it out. Perhaps the market will correct a bit after the knee-jerk reaction to the firsthand news.