Seattle Real Estate Mortgage Rates Today 3/10/2011
Seattle / Bellevue Real Estate Mortgage Rate Watch: 30 Year Bond Auction A+ rating and no rate improvement? Why? Today Jobless Claims came in lower than expected which should be good for the bonds, BUT no movement. A+ 30 year bond auction which should be good for bonds, but no movement. Oil prices fall good for our wallets, BUT no movement. DOW JONES falls over 100 points, BUT no movement. WHAT? WHY? This is due to a ceiling of resistance that the bonds are fighting before it can make a convincing move higher and for mortgage rates to improve. This could be a little psychological but it has Wall Street and investors paying attention. The mighty Warren Buffet late last year and early this year began to reposition and refinance many of his commercial holdings due to the fear of future inflation. He did this by selling off many of his positions in bonds. PIMCO who runs the worlds largest Bond mutual funds also SOLD all Treasury positions. This could be adding pressure on Bonds and Rates from making a convincing move from the current levels.
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