Seattle Mortgage Rates Today 9/5/12:  “Mario Draghi, what say you?”  In anticipation of tomorrow’s European Central Bank (ECB) meeting on Thursday, speculation surrounding a bond buying program to assist Italy and Spain is at the top of the list.  Although the ECB has refused to support that notion, it’s difficult not to believe that as bond yields have risen on the uncertainty that those countries will not be able to repay their respective debt.  Just like Ben Bernanke’s “announcement” of Quantitative Easing 3, nobody knows if Mr. Draghi will announce any details of the bond buying program; the prospect of an unlimited rescue fund for those nations in debt are being questioned by the Germany’s high court.  That ruling will be released in a couple of weeks.

Markets remained unchanged as investors hold off on any trading ahead of the announcement of the ECB bond buying program and easing this side of the pond.