Seattle Mortgage Rates Today 10/25/12: Yesterday, the Federal Open Market Committee’s meeting concluded reiterating its policy regarding Quantitative Easing 3.  The FOMC will continue to purchase $40B in mortgage-backed every month until the economy begins to recover, strengthen and stabilize.  The Fed also restated that Federal Fund Rates will keep rates near zero until the middle of 2015—a year longer than originally stated.  This should assist in keeping rates lower.  However, inflation is inevitable considering the amount of money being printed.

Unpredictability is the word for today.  Fundamentally, rates should remain low with the ongoing debt crisis in Europe.  Economic news on this side of pond and QE3 is affecting bonds negatively at the moment.

Cautiously floating rates and on the ready to lock may be the modus operandi today.