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Federal Market Committee Voted…

By Douglas Trudeau

Real Estate Agent with Tierra Antigua Realty

September 18, 2007 05:03 PM

by Wayne Novak, Premier Mortgage Resources

Tucson Real Estate - Bank2 As you probably know by now, the Federal Open Market Committee voted to cut the fed fund rate and the discount rate by 50 basis points each. The Fed said its decision to slash the key federal funds rate was aimed at preventing tighter credit conditions from taking a more severe toll on economy.

While the Fed’s super aggressive monetary policy decision has certainly spawned a handsome rally in the mortgage market — I think it is important to recognize two things; (1) the Fed has essentially abandoned its inflation fight in favor of stimulating economic growth, and READ MORE

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Brandon Causey

Coastal Palmetto Realty LLC - Loris, SC

Realtor, Coastal Palmetto Realty LLC

Wayne...nice post. Check out this one and see if you can win some bragging rights...I think I linked it right. Gamble on the FED....you still have time for the next go round

Sep 18, 2007 05:12 PM

Eric Kodner

Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes - Minnetonka, MN

Wayzata Lakes Realty: Twin Cities, Madeline Island

Doug, kudos to you for correctly reporting that the Federal Reserve Open Market Committee voted to cut the federal funds rate. I've read so many pseudo-ignorant blogs dealing with this topic on AR with headlines like "Bernanke Saves the Day" or some such nonsense.

I think a lot of people in this industry are clueless about where our laws come from and which Federal agencies govern our industry. My hat's off to you for getting it right!

Sep 18, 2007 05:27 PM

Paul Dunn

Tucson, AZ

former orginator

Doug, well said. It is also good to see that the mortgage guy who wrote the article got it right 100%.

I was actually in my car yesterday and heard an ad on the radio stating "Hi this is _______ owner of ____ ____ Funding. It's a great time to refinance because the Feds just lowered mortgage rates 1/2 a percent.." That guy got it wrong.

Cheers,

Paul Dunn www.paul-dunn.net

Sep 20, 2007 06:31 AM