Seattle Mortgage Rates Today 7/27/12
Seattle Mortgage Rates Today 7/26/12: “Will Spain need a bailout?” As Spain’s interest rate continues to climb to an unsustainable rate nearing 8%, Economy Minister Luis de Guindos acknowledged that they may need a full-blown bailout at the tune of €300BN. Germany’s Finance Minister, Wolfgang Schaeuble, is not in favor of that at notion—at least not yet. The European Stability Mechanism (ESM)—the organization that assists financially troubled EU states—will be aiding Spain sometime in September. Germany intends to wait until the ESM aid is in place and reassess the need for the bailout.
“Is the US economy recovering? I don’t think so…” Heading into the 3rd quarter, we learned that the 2nd quarter did not fare well. Consumers’ spending habits decelerated to their slowest in the past year. This only validates the need for additional stimulus in the economy in the form of Quantitative Easing 3 (QE3). With the Federal Reserve meeting on September 12th some say that hints of easing may take place. Others don’t believe it and think that QE3 will only be implemented in a “real” crisis.
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