Oct 30th Video Mortgage and Financial Market Update

Hello Friends, As you all know, the Feds cut short term interest rates, the Fed Funds rate as well as the discount window by .50%. The Fed Funds Rate is now 1%, which banks should follow suit in lowering the Prime Rate to 4% which is the lowest rate since June of 2001. Please watch the video for more info on how the FFR effects long term rates like a 30-yr fixed mortgage. Also, 3rd quarter numbers for the GDP support we truly are in a recession now by declining by .03% the first loss in 17 years and the latest drop in 28 years. Also, consumer spending dropped by 3.1%, a huge drop off. A lot more info in the video, have a great day! Be Blessed!