What’s the Current Trend in Seattle Mortgage Rates?

Mortgage rates remain unchanged today

What’s Happening in Financial Markets?

The labor department reports jobless claims in the US have dropped to 339,000 claims after averaging 362,000 claims the previous four weeks.  Across the water in Spain the jobless rate continues to climb setting the highest record since the 70’s.  The number of unemployed people increased to 6.2 million in total.

How Does This Affect My Mortgage Rate?

Strong US news benefits the stock market (Dow Jones) and hurts the bonds (rates go up).  BUT…if you look at the big picture, if Europe continues to struggle, investors tend to move assets into the US bond market.  If the bond market gets stronger mortgage rates have the potential to improve.  Continue to follow us on the website or on Facebook.

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