Seattle Mortgage Rates Today 5/25/12
Seattle Mortgage Rates Today 5/25/12: “Euro bond-age für Frau Merkel?” In order to contain the crisis in the EU, there is some gossip that German Chancellor Merkel may be convinced to create Euro bonds. If Euro bonds are issued other Euro Zone countries like Greece, Portugal, Spain and Italy, would subject the citizens of Germany to their debt. This is why fiscally conservative Germany has been anti-bond.
With time running out, the only option may be the creation of Euro bonds to buy some more time. Currently, Greece is seeing a run on banks with approximately €6 billion withdrawn so far. Should the same happen in debt-laden Italy and Spain, the EU could be in very dire straits. Again, the only option right now seems to be on the shoulders of the European Central Bank. Will the ECB start the presses? Trillions of Euros would need to be printed to contain the crisis in its current state.
What does this mean to us on this side of the pond? The continued uncertainty will definitely assist in keeping our rates low and perhaps, pressure them just a bit lower. We can only wait and see.
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