10/31/2007 -- Fed Lowers The Fed Funds Rate by .25 basis points

We were right on!  The Fed lowered the rate to 4.50%. 

So how did mortgage bonds / interest rates react?  Believe it or not, we might see a rate increase tomorrow.  Anytime the Fed lowers this rate, there is always a concern over inflation.  So we'll see what happens!

Have a GREAT Halloween!