Seattle Real Estate Mortgage Rates Today 9/9/11.  Obama announced a larger than previously speculated Jobs plan.  The previous rumor was for $300B but the President proposed a $447B plan that included tax cuts and spending initiatives to help boost economic growth.  Will this course of action really pass or create a gridlock towards the US recovery? 

The President mentioned his team will work with Fannie Mae and Freddie Mac over the Home Affordable Refinance Program (HARP).  Currently HARP has loan to value (LTV) limits, date restrictions, PMI restrictions, etc.  The guidelines have fortunately helped many homeowners refinance, but has also left more without financial options to improve their real estate financing.  Of course rumors have been floating around of a non-LTV or limit for underwater homes to have the opportunity to refinance.  If this is the case will lenders truly adopt this program?  More details will follow in the coming months….

Mortgage bonds in general are improving today.  The European fight continues with the financial struggles.  Juergen Stark, Germany’s representative for the European Central Bank has resigned.  This is a huge negative shift in Europe with the decision to support countries such as Greece, reestablish a Euro Bond, and more. 

This Sunday is the 10^th anniversary of the horrible attacks on 9/11.  Everyone please be safe as credible information has been received of possible plans to attack again.  Our thoughts go out to everyone who has been impacted because of that day. 

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