Seattle Mortgage Rates Today 10/19/12: Mortgage bonds are holding their ground as they opened a bit higher this morning.  Global stocks fell as corporate earnings from GE, Microsoft and Google were reported lower than expected.  Also supporting bonds is Gross Domestic Product (GDP) is remaining under 2%–much lower than expectations.

Fundamentally, rates should remain at historically low levels given the continued uncertainty in Europe and a slow-growing economy here in the US.  The Fed’s program of easing, however, is inducing inflation.  As inflation takes hold, rates are sure to move higher.  This is inevitable and is not affected by any global sentiment.

Do you know what today is?  Today, in 1987, saw the fall of stock market around the world.  The Dow Jones Industrial Average (DJIA) experienced its biggest drop in one day—a whopping 22.61%!