Seattle mortgage rates have opened exactly where we ended on Friday.  As last week continued, bonds weakened which means mortgage rates slightly increased.  Today is a relatively quiet day for economic news but stay tuned for the rest of the week!!

This week will bring reports from consumer confidence, the start of the FOMC meeting, treasury auctions, and new home sales for December.  With the 2 day Fed Meeting starting on Tuesday, there should be no change to the Fed Funds rate.  The current rate is set at 0 – .25%.  We will post further news as it is released.

On Tuesday 2yr, Wednesday 5yr, and Thursday 7yr notes will be set for auction.  A total of $99B is set between the 3 days.  Depending on the outcome of each auction per day, this has the power to shift the market up or down.

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