Seattle Mortgage Rates Today 8/27/12
Seattle Mortgage Rates Today 8/27/12: “It’s the great Quantitative Easing, Mortgage Bonds!” Although there is not much to report today, the big announcement will most likely come this Friday. Federal Reserve Chairman Ben Bernanke will meet in Jackson Hole, Wyoming for the annual speech on monetary policy. Will it be a repeat of the last stimulus package of 2010? On August 27th, 2010, Ol’ Benny announced the coming of QE2. On announcement of QE2, stocks rallied higher at the expense of bonds. However, 2012 is much different than 2010. The notion that QE3 was on the horizon already gave stocks a good run recently. The rally higher for stocks is near their peak and we can’t imagine them getting any higher.
Last week, a letter from Benny B to the Congressional Oversight Panel noted that the Fed Reserve needs to take further action to assist in economic recovery. His sentiment more than points to the announcement of QE3.
More on this as the week progresses…
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