Seattle / Bellevue Real Estate Mortgage Rate Watch: OUCH!!! Rates jump higher yet another day.  HAVE WE PASSED THE BOTTOM? At this time it appears we may have.  No one knows what will happen in the future with the economy but right now it is easier to “sell on the news” and this is what the market is doing at the expense of the bonds.

The 10 Year note has jumped to its highest levels since JUNE.  It will be an interesting play to see if investors start to look again to see if it is oversold.

Another key point of hot discussion are the TAX CUTS, as President Obama made clear it is a give and take move by government, Wall Street continues to like the progress and direction the economy is moving in.

Finally, there is the Federal Reserve, “don’t fight the Fed” with this saying they still have QE2 still at their disposal which keep in mind is a tool to pump more money into the economy and fuel the stock market.  This too comes at the expense of the bond market and Mortgages.

We will have volatility in the future which will help Mortgage Rates, but for the current trend rates do look to push higher.

We will be back tomorrow with more updates!!! “Follow Us” on the left.