Seattle Real Estate Mortgage Rates Today 6/7/11: Mortgage bonds open this morning lower than yesterday’s close. The $32B 3yr note auction today received a “B” grade, that has helped the bonds improve. If bond continue to strengthen and bounce higher from the floor of support, a minimal price improvement can be possible.

Fed President Richard “Loose Lips” Fisher stated there is no need for QE3. From the start Loose Lips was against the thought of having QE2. With rates remaining at rock bottom levels for 2011, the Feds do not have a reason for QE3. Loose Lips stated business growth, hiring, and consumer demand are required but the uncertainty leaves a dull picture for the future.

Stay tuned as more auctions will follow in the next couple of days!

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