Seattle Mortgage Rates Today 12/14/12:  “Oh for the love…”  Once again, news of the fiscal cliff deadlock raises concerns that that Congress and the White House will not come to any resolution by year’s end.  Talks between the President Obama and House of Representatives Speaker John Boehner have yet again reached a hurdle; President Obama pushes for raising taxes on the wealthiest 2% of U.S. households while Boehner refuses such changes.  Even if the two sides decided on a deal, they would need time to “pitch” the agreement, then draw up legislation and finally have it pass in the House and Senate.  Some analysts contend that we will “fall of the cliff” and will be forced to address the problem retroactively.  Again, if no deal is met, revenue hikes and spending cuts equaling $600 billion could push the economy back into recession.  Who can we blame?

Rates are holding steady as bonds remain relatively unchanged.