Hello, I am no financial wall street whiz kid, just your average mortgage guy experienced enough to know that when the Fed cuts the rates which can be a good thing - it doesn't mean that mortgage rates dropped.

I guess it's no surprise that most ppl think that is the case. I work for a national Direct Lender and I speak to 20 different ppl everyday. Sometimes I spend quite a long time explaining the whole shabang about how there can be an inverse reaction between these 2 indicators while other times I quickly explain that the Fed rate only changes the Prime rate index which is only used for HELOC's -home equity lines of credit. If I explained the whole deal to everyone I speak to I'd never get half of my work done and I am in this thing to make money right?

So let's try to pass the good word around and if it saves me from having to explain it to at least 1 person everyday, that would help me out alot - Do your research, don't take my word for it.

Google: Fed rate mortgage rates - and do your own homework. Have fun!

Xavier Ramirez

Mortgage Consultant

FHA Full Eagle Direct Lender

Direct line: 714-846-0503

Fax: 714-845-0009