Seattle Mortgage Rate Today 6/20/12: “Benny, what say you?”  The Fed’s anticipated Monetary Policy and Decision Statement was released earlier today.  The Federal Open Market Committee (FOMC) alludes to a moderately expanding economy so far this year.  Nonetheless, the unemployment remains high given the slow growth in employment.  Although we may have seen signs of improvement in some areas, housing in many parts of the nation remains gloomy.

Obviously the FOMC continues to support the economic recovery through monetary policy accommodation.  They will continue to keep the federal funds rate at 0 to .25% they state that the rates will remain this low through 2014.

With somewhat positive news from the Fed, stocks are seeing an upward tick at the expense of bonds.  We have experienced a rate/price change after the release of the Fed’s statement.  Nevertheless, we recommend locking in the short-term and floating for those who have a moment to wait.

As the season of home buying is upon us, are you prepared to make on offer on that house you just viewed? Is your offer strong enough to entice sellers? WE ARE THE PURCHASE EXPERTS! By working with The Mortgage Reel Team—unlike the big banks—be assured of an on-time 30-day closing! Contact us today and receive a same-day pre-approval.