Seattle Mortgage Rates Today, January 23, 2009
Seattle Mortgage Rates Today, January 23, 2009: One of the Fed chairmen “Frederic Mishkin” stated inflation might be a factor to the US economy in 2009. It is important for Seattle buyers and home owners to secure historic low interest rates. There are several measures that have been put in place to turn the economy. Some signs to keep a focus on are corporate earnings in the second quarter. Many companies are shedding jobs to increase profitability which will be reflected on Wall Street. The Federal Reserve is currently purchasing mortgage backed securities to instill confidence in the financial sector. This will cease in June of 2009. Travel will increase causing a higher demand this summer in oil, in return will increase the cost of goods. All leading indicators of inflation that the Fed can only counter by increasing the short term rates. If you currently have a home equity line of credit or have a adjustable rate mortgage we encourage you to strongly consider refinancing into a long term loan due to the fears of inflation. The results of inflation can be severe on monthly payments increasing past your comfort zone.