Seattle Mortgage Rates Today 6/25/12: Due to meet on Thursday, June 28^th, the 2-day European Summit in Brussels will attempt to tackle the debt crisis.  With the crisis in its 3^rd year (my, how time flies), there is concern that the Summit will not produce any results to confront the current crisis.  Continued pessimism pushes global investors into safe-haven trading.  The European Monetary Union (EMU) is running out of time; “the box of band-aids” is almost empty.  Spanish and Italian bond yields continue to rise and we may see them in the same position as Greece very soon.

Mortgage bonds continue to hold ground as the woes in Europe are persistent.  Again, we recommend locking your rate if you do not have time to wait.  The uncertainty in Europe will pressure stocks lower as safe haven trading takes place.

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