Feds Cut Rates!
As you may have heard by now the Federal Reserve made an unpresidented emergency rate cut last week lowering the federal funds rate (this effects rates on credit cards, home equity lines of credit and auto loans) by .750%. While the lowering of short term rates typically do not have a major impact on 30 year mortgage rates, this morning it did. FHA rates have dropped to 5.375% for a 30 year mortgage and conventional rates are down to 5.250% depending on credit score on loan amount.
NOW is the time to buy!
To Your Success!
Charrissa Cawley
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