DON'T FALL FOR THE FED PR: Strike While The Rates are HOT! Last week, the Fed kept the Fed Funds Rate steady at 0 - .25%, the lowest range ever and this was no surprise. However, they did offer some interesting thoughts, with their statement indicating that they anticipate "economic conditions are likely to warrant exceptionally low levels of the Federal Funds Rate for some time" and that "inflation pressures will remain subdued in coming quarters". It does appear that the Federal Reserve will continue to purchase large quantities of Mortgage Backed Securities to provide support to the mortgage and … (16 comments)
interest rates: SEIZE THE DAY!
- 12/12/08 12:06 PM
Rates Fell to Earth Today! If EVER you wanted to buy or refinance a home today the time has come! The mixed financial news hitting Wall Street has resulted in amazingly low rates and lenders eager to fund! A flight to Bonds has this effect. Today we are quoting Conventional 30 year fixed terms from 4.875-5.0% for purchases or rate and term refinances with 680 FICO scores. Lower Rate Promises? Refinances are very unlikely to be on the low rate priority list the Fed is promising in the new year. We 'hear' that the lower rates will apply to distressed borrowers in modification mode and first time … (3 comments)
interest rates: Which Way RATES?
- 06/06/08 10:25 AM
UP! Today's Prediction: A trusted mortgage industry veteran with 30 years in the business predicted today that our conventional interest rates will head up as early as October '08 to the 8%-12% range. Reasoning: the extreme devaluation of the US Dollar and the fact banks have been lending money at a loss for some time. In addition our national debt is looming as a force to be reckoned with. So something's gotta give...and it is US who will be doing the giving. Think of the economy as a mobile:. The extreme volatility in the stock market (a rod on a sting) against our national debt (another rod) against … (5 comments)
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