Seattle Mortgage Rates Today 12/24/12: With the fiscal cliff looming and no deal in sight, Republicans continue that the ball in the court of Senate Democrats.  Interestingly, there seems to be no sense of urgency to resolve the problem.  The next Senate meeting is scheduled for next Thursday; however, the House has nothing set but that may change as well.  So far, President Obama has increased the threshold of net income from $250K per year to $400K in an effort to reach more Republican support.  That number was still too low for Republicans.  Democrats believe that more Republicans from both the house and senate may support an increase to $500K.

Should the cliff not be averted, taxes are expected to go up January 1^st.  But some believe that a deal would be met soon after.  The government needs to find a solution soon as the IRS would not have enough time to revise the tax table for next year.

Markets remained relatively calm ahead of the holiday tomorrow.  Floating is the sentiment for today.  Have a safe and happy holiday and we will be back on Wednesday, December 26^th.