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WhooHoo - Look At Me - I Made The Paper & Did The Fed Move Create Opportunity
So I was out on an appointment with an exceptional Realty Executives of Southern Arizona agent, and when I got back to my office I found one of those little yellow stickies saying "Call Christy at the newspaper".
So I spent the next twenty minutes explaining:
What affects mortgage ratesWhat just watching the stock market can tell you about the future of mortgage ratesWhy the Fed movement does not set mortgage ratesWhat to expect in the near future for mortgage rates I was quoted in the Arizona Daily Star today regarding the interest rate cut by the Feds, click here for the story.
HOW DOES THE FED MOVEMENT AFFECT RATES:
Take a look at this chart. It shows a period in January of 2001 when the Feds began a series of rate cuts that the 30 year mortgage was at 7%. After those DEEP rate cuts, through May of 2002, the 30 year fixed rate mortgage was still at 7%.
Today I had a meeting with a prominent financial planner here in Tucson. On the way to my meeting I hear a radio advertisement stating this:
"Hi this is _________ owner of _________ ______ Funding. Now is a great time to refinance because the Federal Reserve just dropped mortgage rates 1/2 a percent. That's right the ... more
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