Seattle Mortgage Rates Today 2/6/2013:

What’s the current trend in mortgage rates?

Mortgage rates have slightly improved.

What’s happening in financial markets?

Although headlines out of Europe have lessened lately, the problems still exist.  Renewed concerns over the debt crisis are pressuring bonds higher this morning.  The past couple of months have yielded nothing to better the dire economic situation in the Euro Zone.  As the Euro (€) declines, investors continue to move assets into the safe-haven of the U.S. bond market.  There is an opportunity for the Euro to move lower effectively supporting the bond market.

How does that affect my mortgage rate?

As the rise in stocks over the past 2 weeks begins to plateau, we may see bonds on the rise.  Again, along with concerns in Europe the bond market has the opportunity to bounce back.  Will we see rates are their all-time historic lows?  Probably not.  However, we may see them move lower from their current levels.  If you are closing within days to weeks, locking is prudent.  If not, you have a bit of time.