Seattle / Bellevue Real Estate Mortgage Rate Watch: Japan continues to feel the aftershock of the Tsunami and its devastation. Here in the U.S., the bond market is on close Watch. Why? Going back in history, Kobe, Japan 1995, a major earthquake shook the country. At that time in order to rebuild Japan had to sell its holding in the U.S. Bond/Treasuries market, triggering the 10 Year Note to jump .20% in just days. This could repeat itself as Japan begins its process to reestablish and rebuild. If they do sell some of its positions in the U.S. it will pressure rates to move higher.
Yet there is still global unrest with Muammar Gaddafi launching air-strikes against his own people to regain control on Oil-Producing towns. With the escalated violence investors seek the U.S. Safe Haven as we are seeing today the Bond market benefitting from, regaining the losses from Friday.
The underlying story here is what will happen when Japan begins its recovery, Libya finds peace in it power struggle, Quantitative Easing 2 fully deployed by June 2011 here in the U.S. and the continued improving economy? Gradual rise in interest rates seems to be clearly defining itself right now. Looking into the second half of 2011 it would be safe to say rates will not be able to improve much more. This is a very important fact to consider when, refinancing, purchasing, investing or selling a home in today's market.
Mortgage and Real Estate Reel continue to provide market relevant and impacting news. The information that you need to make a smart choice for the largest investment of your life, your home.
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