I normally reach my clients via my weekly newsletter. However, there’s great news about interest rates that’s of great importance to you.
Due to extenuating circumstances concerning the volatility in the stock market and the overall poor condition of the economy, the Fed decided it couldn’t wait until its next scheduled meeting and chose to drop the Federal Funds Rate today by 75 basis points. As a result, conforming loan rates, which are already below 6%, will likely fall further in the coming days.
Many consumers have been sitting on the sidelines through the mortgage market meltdown, but now is a great time to jump back into the market and get a 30-year fixed mortgage at rates we haven’t seen since 2003 (think the low-5s). Whether you or your clients are considering purchasing a new home or refinancing an existing home, today’s great rates will add up to thousands of dollars in interest savings
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment