Seattle Mortgage Rates Today 8/8/12
Seattle Mortgage Rates Today 8/8/12: While there is not much to report on the mortgage bond forefront, yesterday’s 3- year Treasury note auction did not bid so well. Today’s 10-year Treasury auction performed even worse. Bonds will continue on their downward spiral and expect to see worsening in not just price, but rates. This trend only seems to worsen as we saw the beginning of this last Friday. Before the 10-year note auction this morning, mortgage bonds were actually trying to stabilize. Ouch.
On the stock forefront, affected by very little market-altering news stocks experienced very light trading. They may have been trading just a little lower on some negative economic news from Germany. With continued diminished global demand and central banks in Europe expecting lackluster growth in the near term, investors are holding onto what they have.
As we see the fluctuation of mortgage bonds and in turn, rates, sentiment can change quickly and give bonds a boost. Case in point: although we saw employment up in the latest Jobs Report, corporate America seems say that hiring may come to a halt as workers become more productive with less bodies needed. Should this sentiment continue rates may find themselves back on track moving lower once again.
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