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Mortgage Rates Are Not Dropping - CNBC Explains - 05/05/08 08:48 PM
The Federal Reserve dropped their short term Federal Funds Rate an additional .25% last week which brings the total adjustment of 3% since the fall of 2007.  The questions remains, why are mortgage rates not dropping in sync with the Federal Funds Rate?
Click on the link below to watch a CNBC video which includes an easy to understand explanation.  Enjoy. Video title: Assessing Mortgage Rates - Making sense of mortgage rates, with CNBC's Steve Liessman.
If you have questions or comments, just ask.
Jim Hogan, The LoanSource
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Federal Reserve 5/30 Press Release Commentary - 05/03/08 01:26 PM
Included are a few exerts from the Press Release by the Federal Reserve yesterday, April 30, 2008 concerning their action to lower the Federal Funds rate by an addition .25%. If you want to read the entire press release, just click here.
"Recent information indicates that economic activity remains weak. Household and business spending has been subdued and labor markets have softened further. Financial markets remain under considerable stress, and tight credit conditions and the deepening housing contraction are likely to weigh on economic growth over the next few quarters".  My translation:  Yes, we are in a recession and have been for … (0 comments)

 

Jim Hogan - Atlanta Loan Source

Sandy Springs, GA

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