Seattle Real Estate Mortgage Rates Today 2/17/2011
Seattle / Bellevue Real Estate Mortgage Rate Watch: Inflation & Jobs serve a mixed bag for the economy, BUT for RATES it was GOOD NEWS. Rates breaking even from the losses before the close of market yesterday. WHY? Inflation readings came in higher than expected levels but the Initial Jobless Claims came in higher disappointing the markets expectations, showing Unemployment still has a long journey ahead.
Here is the POINT for today: Since November 4th when the Federal Reserve launched Quantitative Easing 2, INFLATION became a serious concern of the market since then. Rates saw a sudden spike in less than 48 hours and have gradually moved higher since. The GOAL of Quantitative Easing 2 was to boost the stock market, create inflation and lower unemployment. As of today the GOAL has been successful, though heavily debated at what cost….. QE2 will remain in play until the end of JUNE.
Here is what we are for certain on. INFLATION increases RATES. ECONOMIC IMPROVEMENT increases RATES. Both of which continue to reflect in economic data which only leave one direction for mortgage rates, a gradual increase over 2011. At this pace analyst speculations of 5.00% – 5.50% by the end of 2011 may not be so speculative anymore.
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