Seattle Real Estate Mortgage Rates Today 2/3/11
Seattle / Bellevue Real Estate Mortgage Rate Watch: A number of different economic and global factors are impacting the bond market today. Bonds again opened lower today and have slowly deteriorated as the day continues. The slow drop in bonds over the past weeks has added up to be quite large.
The jobless claims were lower than expected. As reported this morning, the claims were below expectations and basically evened out the prior increase from last week. Even emergency unemployment compensation has dropped so overall the economy looks to be improving but the unemployment rate will remain high.
Inflation! Global inflation is a likely killer for US bonds in the near future. As a home owner or buyer looking to secure a rate, if global inflation rises, local consumer mortgage rates will follow. For example if inflation rises and causes the European Central Bank to raise rates that will attract US investors. Foreign currency and bonds will play against the US economy. If money is moved from the US to Europe, that will weaken the US market.
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