Seattle Real Estate Mortgage Rates Today 10/17/2011
Seattle Real Estate Mortgage Rates Today 10/17/2011: German Chancellor Angela Merkel, implied in a statement shortly after the G-20 meeting. Don’t expect a quick fix in Europe, and those that do….. are dreaming. This has been our stance since the beginning of the joy ride the global market has been on since Greece hit the financial meltdown. Now they they are in some type of bail out plan there is still so much more coming that will heavily impact the global markets. Again Spain, Portugal and Italy are all still facing the same fate as Greece which will hurt the Euro even more. With Germany expressing Pessimism of the plan and the outcome you can see that the global markets are once again moving towards the U.S. Safe Haven which has reflected in Mortgage Rates improving ever so slightly. But the saving grace here is that Mortgage Rates may have found a ceiling for now on how high rates can move. On the flip side Third Quarter Earnings will continue to create volatility in the markets as Wall Street trades on good and bad news. Once again as we have been mentioning in each post. Investors and Fund Managers are moving into stocks to take more risks in the Fourth Quarter to improve their portfolio performance. This has been a factor in pressuring Mortgage Rates higher at the end of each year. If the holidays bring out the consumers to spend just a little bit more than last year it will result in a spike in Wall Street which will result in more pressure on long term holds like Bonds and Mortgage Backed Securities. This will translate into pressuring Mortgage Rates higher.
The market will heat up this week on Wednesday with reports coming from Consumer Price Index and Housing Starts. On Thursday Jobless Claims and Existing Home Sales will be closely watched and any unexpected surprises will bring volatility to the market.
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?
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