Seattle Mortgage Rate Today 6/11/12:  If you watched the news over the weekend, you probably saw Spain receiving a 100B Euro band aid.  Of course the standard market reaction is the stock market would rally and bond markets take a hit because of the positive outlook on Spain with the money.  That was short lived just like Greece.  Spanish economy is the 4^th largest in the Eurozone and investors lack the confidence of repayment as economy struggles.  As the Euro hurt continues, mortgage rates should continue to receive the benefit.

In the US, the Feds continue to purchase mortgage bonds but the recent increase in volume has the supply out pacing the current demand.  Bottom line is it will be difficult for bond prices to increase (drop rates further) if investors (buyers) do not continue to buy.

Again positive and negative news will continue to impact the industry.  Follow and contact us with specific questions regarding your home loans.

Have a great week!