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Connecticut Mortgages - Benchmark Mortgage -Feds Cut Short Term Interest Rates and 30Year Fixed Follows Quickly!

Connecticut Mortgage Rates Fall Shortly After The Feds Cut the short term interest rate

Today the Federal Reserve announced a 1/2% key short-term interest rate cut to 4.75%! There is wide acceptance that this cut was meant to re-energize the housing and mortgage markets.

The Short term Key Rate takes a direct effect on such loans as HELOCS, consumer credit cards,short term loans such as person loans etc. typically the fixed rate mortgages don't immediately have an effect up or down. Today was not a typical day, the GOOD NEWS is that Connecticut home buyers or those looking to refinance their current loan enjoyed about a 1/4% discount on the fixed rates across the board.

If you are a home shopper or if you are looking to refinance your current home then now may be your window of opportunity to take advantage of this discount. Contact your friendly Connecticut Benchmark Mortgage Specialist today.

Leo Namiot

Benchmark Mortgage - Connecticut

www.BenchmarkCT.com

Connecticut Real Estate Mortgages

Posted by Connecticut FHA LOANS,CT VA Loans, CHFA CT First Time Home Buyer:CT CHFA Loan on 09/18/2007 10:45 PM

Comments (3)

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3 Comments on Connecticut Mortgages - Benchmark Mortgage -Feds Cut Short Term Interest Rates and 30Year Fixed Follows Quickly!

SEP

2007

Leo,

I'm anxious to see what immediate effects this will have on generating new agreements of sale. We'll see! Thanks, Fran

SEP

2007

Leo, this had a nice initial reduction in the rate, unfortunately today was not such a good day and we lost some of that gain. Lets hope we get it back.

SEP

2007

I find it interesting that we're flipping out over a .25% drop, when in the 70s and 80s, people were buying homes at 15% interest rates. I think some sort of perspective has to come into the media presentation of this 'tough' market. I am energized and excited to buy a home. So should every buyer out there!

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