A lot has happened since my last post and currently interest rates are near or at all-time lows.
As it has for the last year, the mortgage market continues to generate a lot of chatter in both the media and in Washington. First there has been talk about the 4.5% 30 year fixed rate mortgage. Will [...]
On Tuesday morning the Federal Reserve and Federal Home Loan Banks announced that they would purchase up to $600 billion in Mortgage-Backed Securities (MBS). The exciting part of this announcement, is that it sent mortgage interest rates down to near the lows for the year. With the bond market now closed for the week, three [...]
Today the Fed cut both the Fed Funds Rate and the Discount Rate by .50%. Does this mean that we are going to see mortgage rates drop by a half a percent?
First let me define the Rates that were cut today. The Federal Funds Rate is the interest rate at which depository institutions lend balances [...]
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