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fed: Fed Cuts and you wonder what it means to you!?!
- 09/19/07 09:02 AM
The Federal Reserve cut its overnight interest rate target by half a percentage point to 4.75%, citing turmoil in financial markets as a threat to economic growth. It also cut the discount rate by a half percentage point to 5.25%.
What does this mean for mortgage interest rates? Fannie Mae rates have been improving all month in anticipation of this move, so not much happened today. This does immediately lower all Home Equity Lines that are tied to Prime Rate by .5% !
This move will significantly help with psychology of the buyers and this is a great time to approach your buyers … (3 comments)
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The Federal Reserve cut its overnight interest rate target by half a percentage point to 4.75%, citing turmoil in financial markets as a threat to economic growth. It also cut the discount rate by a half percentage point to 5.25%.
;)
;)
