Bellevue / Seattle Real Estate Mortgage Rate Watch: “A” grading for 10 year note auction today at 10:00 rallies the mortgage market and is improving rates. Treasury Auctions are Key to mortgage rates. Good Auction Ratings help to improve rates, which would be an A rating like today. Any auction result below an A like yesterday will pressure rates higher.

Portugal had good results in auctioning off their sovereign debt in 10 year notes which would seem to be good news, however with more gloomy reports still to come about the ailing financial sector. The Euro stands to have a rough year ahead poising investors to seek the Safe Haven of the U.S. which will help mortgage rates, BUT only for the short term.

We are working on the last touches for a education piece on the affects from the Recent Fannie Mae & Freddie Mac pricing changes. Stay Tuned

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