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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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.
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