Seattle Mortgage Rates Today 3/30/12: “Income on the rise?  I think not!”  Reports of Personal Income and Spending came in near expectations.  Although personal income increased by 0.2%, what is not considered is the inflation adjusted income.  Personal Consumption Expenditures, which includes food and energy, was up 0.3%–so income actually declined by 0.1%.  In the past 4 months incomes have actually declined when considering the inflation adjusted income.  Exacerbating this negative trend is rising oil prices.

“Did someone say ‘Savings’?”  The lowest level in 3 years, the rate of US savings has fallen to 3.7%.  Ironically, the decline in savings is inextricably linked to higher spending and a decline in income.  This situation is unsustainable—make less, spend more. 

Speaking of savings, are you considering refinancing or purchasing your next home?  With volatility rampant and historically low rates, wouldn’t you agree now is the best time to take charge of your financial health?  Contact us today and find out how much you could be saving.