Seattle Mortgage Rates Today 5/18/12: There is not much to report about today except for the highly anticipated Facebook IPO. It opened higher than expected—about 25% higher. Mortgage Bonds are slightly affected as stocks move higher with the release of the IPO. In addition, given that the drama in Europe has calmed and no national reports are out bonds are pressured slightly lower.
“What goes up must come down!” As we’ve seen bonds continue on their upward trend the past couple of weeks, they have reached a point where we may see them pressured lower in the coming weeks. As we see stocks gain traction bonds may be negatively affected. Although we have become accustomed to the current state of the market, bonds may have knee-jerk reaction to any news coming from around the country or Europe. Don’t expect rates to fall much further at this point. Given the recent lending environment, lenders have plenty of business and will most likely not lower rates in order to buy the market. Lock in the short-term and for those who are floating, be cognizant of the market and stay one step ahead.
As we begin the season of home buying, are you prepared to make on offer on that house you just viewed? Is your offer strong enough to entice sellers? WE ARE THE PURCHASE EXPERTS! By working with The Mortgage Reel Team—unlike the big banks—be assured of an on-time 30-day closing! Contact us today and receive a same-day pre-approval.
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