Seattle Mortgage Rates Today 9/18/12: “Will Quantitative Easing 3 work?”  After the Fed’s announcement of QE3 last week and the immediate implementation of the new stimulus plan, mortgage bonds are still ahead but are still not near the highs achieved after last Thursday.  Mortgage bonds continue to hold ground for the fact that mortgage backed securities are being purchased daily.

Though some Fed members agree that the Federal Reserve had to act now and more need to be implemented, the effectiveness of QE3 is still in question.  Some would go as far to say that Congress has not assisted in the economic recovery and the Fed has been proactive.

Again, as was mentioned before, will lenders pass on the price improvements to the consumer?  Probably not.  We anticipate rates to stabilize as they are and lenders keeping those improvements for their own gain.  Unless some market-altering news comes our way, rates will stay put.