Fed Drops Rates !

By
Mortgage and Lending with NMLS# 729950 NMLS # 729950

December 11, 2007

Today the Fed. cut rates again. This will bring the Prime rate to 7.25 % and the Fed. Funds to 4.25%. The chart above shows you how mortgage rates will be affected. As you can see, when rates were in the 5.75 % range, the Fed Funds were around 1.25 %. As you can see, the mortgage rates will see a very small change for now.

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Comments (2)

Dale Campbell
Virginia Real Estate - Mechanicsville, VA
That's great news, Joe!  Now let's see how that translates into more business for us!
Dec 11, 2007 07:10 AM
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

Dave:

        Looks like the Financial Planners are seeing the light at the end of the tunnel. This week I took 3 applications from three different parts of the country and all 3 were financial planners. They all felt that the market has reached the bottom and could only start back up. They all bought homes due to that feeling. Let's hope they are right and 2008 brings us all much success. Also, have you checked out my blog about marketing? Let me know what you think. I do deals Nation-Wide, so maybe we can network?

Joe D.

Dec 11, 2007 07:21 AM