Seattle mortgage rates are holding near flat levels from yesterday.  Early this morning the bond market was showing signs of improvement BUT with the stock market rally, this prevented the bond market from holding the gains. 

Part of QE2, the Fed will purchase $7B to $9B in maturities today.  This will round of purchasing can shake up the market.  Hopefully this will be a positive outlook for later this afternoon.  Stay tuned and watch for an afternoon update on twitter!

There is no economic news for release today and Monday, but starting on Tuesday another round of auctions will take place.  2, 5, and 7 year notes are set for Tuesday, Wednesday, and Thursday.  Depending on strength of the sale, this will impact the market! 

Post questions or comments below, we would appreciate the feedback!  Make sure to LIKE us on Facebook!