Seattle Real Estate Mortgage Rates Today 10/11/2011
Seattle Real Estate Mortgage Rates Today 10/11/2011: “Greece is the word” not from the era of John Travolta but the country. All eyes are on how their financial system will recapitalize their banks. The global consensus is optimistic right now. Keep in mind this directly ties to the U.S. Safe Haven trade. Should the reports come out good the Safe Haven trade could sell off which can pressure rates higher. News will also turn to domestic reports like retail sales which if better than expected could trigger Wall Street higher and also pressure Mortgage Rates higher. Here is a global question that has still not been addressed in the EURO. What about Italy and Spain? Both recently down graded by Moody’s, that cannot be good, sounds just like where Greece was six months ago. With global uncertainty there will be opportunities to capture a lower rate due to the Safe Haven trade. BUT, who knows when that will happen. If we have not been in a recession all this time and we have avoided from going into another one. There is one pattern that is certain. The fourth quarter has never been good for mortgage rates. Why? Because the stock market trades higher on speculation of the economy and performance of stocks. Who can blame an investor for taking risk when yields are barely paying 2.00%. When investors move out of bonds and treasuries yields must go up which will directly impact Mortgage Rates being pressured higher. This is a true and clear pattern even during the Mortgage Meltdown of 2007.
Timing is everything just as location of the home is critical. Timing in securing an interest rate, BEST rate, is working with a mortgage professional who has their pulse on the market and when best to advise and educate their clients when timing is right. Along with this key knowledge is to be on top of all of the lending and underwriting changes which seem to almost happen daily. We at the Mortgage Reel are Licensed Washington Loan Originators, serving clients with transparency, knowledge and most importantly keeping your goals in mind. How can we assist you today?
Join the Conversation on Facebook, just click on the banner on the homepage and it will take you to our Facebook page, “How to Beat the Banks on your Home Loan” Like us when you visit and post any comments or suggestions. We want your feedback.
