Seattle Real Estate Mortgage Rates Today 12/21/2011
Seattle Real Estate Mortgage Rates Today 12/21/2011
Housing and Unemployment have been tested and proven, the two most important variables that impact the economic recovery of the United States. Though the numbers are not staggering it does show signs of improvement. Less than 18 months ago unemployment hit its all time highs and housing numbers were in the doldrums, far from seeing any type of recovery. Today optimism is playing out in media and Wall Street. The so called “Santa Clause Rally” in stocks looks to close the Dow Jones for 2011 at the 12,000 mark.
Looking at local data here in Washington one cannot deny that jobs seem to be returning. Boeing is hiring, they continue to have record breaking contracts rolling in the door. My brother in law how is a chief engineer for the cockpit designs just two years ago wondered if he would face an early retirement from the Renton Boeing plant. Today he is relieved that there are more than enough orders to carry him into his retirement as planned. Also keeping in mind when a major company like Boeing signaling health it boosts all third party companies that contract to Boeing which are based here in Washington. Even restaurants surrounding the Everett Boeing facility comment that business has picked up significantly now that more certainty is in the air for employees, comparing this to two years ago when many were facing potential layoffs.
Now turning to the local housing numbers. Not staggering but signs of improvement will continue as employment confidence once again brings out the buyers to the housing market. And we are not even done yet…. FACEBOOK is moving to Seattle, rumored from a leasing company that they are in search of 120,000 square feet of office space. This equals jobs and growth. Have you seen Mercer Street on Lake Union lately. VULCAN / Paul Allen has built building from Mercer all the way up to Denny… Several BLOCKS of new buildings.
Not trying to be the all time cheer leaders but one cannot deny that it does bring out optimism that our local market is still growing rather than contracting like other parts of the country.
This again has a very positive impact on housing. West Seattle, Ballard, Wallingford, Bellevue just to name a few areas which we continue to hear from real estate partners of strong sales. MULTIPLE OFFERS, not just on Bank Owned, resale properties.
With all this said what is the final point being made. Well it is more of a question, have we hit a bottom? ARGUABLE YES… but if employment numbers drive housing like we have seen over the last FOUR years then we very well could be there…. AT LEAST locally, here in Washington. Adding to this Great Mortgage Rates which have been speculated to remain at these levels until 2013! A reminder of Mortgage Rates, reviewing the past two years of rates in the Fourth and First quarters. At these times Mortgage Rates rose higher consistently in the two years. History is being re-written, Mortgage Rates are holding, whew, really need this to assist the housing recovery.
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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