TODAY’S FED RATE CUT DESCRIBED “STUNNING”

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 www.MichaelBRealty.com