Fed Cuts 30 yr Mtg?

Ben Bernanke cuts fed rateDiana Olick from CNBC wrote an interesting article about this. Here's the highlights:
  • The 30 Year Fixed mortgage rate is NOT tied to short-term treasuries.
  • Today's cut will affect short term ARMS, but not by much.
  • This rate cut will not stop the foreclosures that are about to happen.

Diana made a couple statements in addition to these facts, one I agree with and one that is just false... impact of fed rate cut on mortgages

Click the read more buttong to find out more about the impact of the fed rate cut on mortgages >>

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This news update brought to you by

The Ed Nailor Mortgage Team

Charlotte Home Loans

704-651-8704 phone or visit www.EdNailor.com

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Rainer
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Chris Pollinger
Berman & Pollinger, LLC. - San Diego, CA
Consulting for Luxury Teams and Brokerages
So what were the statements you agreed with and which one did you not and why?
Jan 22, 2008 01:44 PM #1
Rainer
69,057
Charlotte Home Loans Your Charlotte Mortgage Lender
Charlotte, NC

Chris,

I do apologize if the post link was not clear.

The remainder is found at http://www.ednailor.com/2008/01/22/how-the-fed-rate-cut-affects-mortgages/

Thanks

Ed

Jan 22, 2008 10:17 PM #2
Rainmaker
129,654
Kevin McGrath
Long & Foster Real Estate Companies- Fredericksburg/Spotsylvania - Fredericksburg, VA
Long & Foster Real Estate Companies
It just seems to me that rate is not the problem. It is housing cost, personal income, fuel costs, etc. Rates seem to be historically low. I also wonder how they will ever get them back up?
Jan 22, 2008 10:50 PM #3
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Rainer
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Charlotte Home Loans Your Charlotte Mortgage Lender

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