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January 2008

Fed Lowers Rate Again - Now Is Time to BUY!!!

Posted at 10:42 AM, Jan. 22, 2008

Real estate professionals, mortgage lenders, buyers and sellers should be jumping for joy and spreading the word about the latest Fed rate cut. Last night, the Fed cut rates by .75% and will probably make another cut of .50% when they meet again on the 29th. 

As Ben Borden of Virginia Mortgage Bankers, LLC notes in his latest blog entry, homeowners with HELOCs should see a reduction in their rate by .75% and their should be declines in other rates such as LIBOR, MTA, and CMT.   And, we may even see 30 year mortgage rates close to 5%.  GREAT NEWS!