Real Estate Agent with Panoptic Realty Group
TODAY’S FED RATE CUT DESCRIBED “STUNNING” Today's unplanned Fed meeting left us with the largest single Fed Funds Rate cut since 2000. A cut of .75% was approved at the meeting. Industry leaders such as Wells Fargo and US Bankcorp describe the cut as "stunning" and are already adjusting their prime rates accordingly. This is great news for home buyers. Mortgage rates are getting cut as you read this blog today! Now is a great time to get in if you have been hesitant in the recent market instability. Three-quarters of a point is major, and it is about time. Mortgages will become much more affordable now. -Michael

Comments (2)

Adam Brett
The Adam and Eric Group - Fullerton, CA
The Adam and Eric Group, Fullerton's Finest
If the stock market continues to crash we will see people putting their money into bonds, and the long term rates will drop as well.
Jan 22, 2008 08:08 AM
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"
Jan 22, 2008 08:44 AM