Seattle Real Estate Mortgage Rates Today 6/15/11
Seattle Real Estate Mortgage Rates Today 6/15/11: Inflation heating up again on data from the Consumer Price Index largest monthly increase in three years. This is another BAD report for Bonds, BUT, problems and growing concerns in the EURO have investors moving to the U.S. Safe Haven trade. Why? Greece still having severe financial problems which lead all the way to the top leading to the resignation of the Prime Minister. Problems in Greece being far from over and a bail out package not set to be released until July, the Euro is still not done with a can of worms. Things still look to get worse for the Euro before improving. This is fueling the U.S. bond market today. In fact, so significantly that we have erased the losses in the bond market yesterday after the spook of inflation. ANOTHER BUT here, if you strip away problems in Europe, the bond market would be higher today because of the hotter than expected CPI report. INFLATION is the arch enemy of bonds and when the word is mentioned bonds sell off pressuring mortgage rates higher. So for now we can be unfortunately thankful for the woes in Europe, this is a time to take advantage of the market. Higher rates would not be good for the housing recovery as Big Ben Bernanke and the Federal Reserve really do not have a clear believable plan that they can fight the concerns of inflation. At least the market is not buying into their insights of a plan.
For now we can enjoy rates being pressured back down, but be aware if changes in the global economy improve we could see rates quickly move higher.
Timing is everything just as location of the home is critical. Timing in securing an interest rate, BEST rate, is working with a mortgage professional who has their pulse on the market and when best to advise and educate their clients when timing is right. Along with this key knowledge is to be on top of all of the lending and underwriting changes which seem to almost happen daily. We at the Mortgage Reel are Licensed Washington Loan Originators, serving clients with transparency, knowledge and most importantly keeping your goals in mind. How can we assist you today?
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