topic Re: Fed Drops Rate to .25% -0 % ???? in Mortgage Loans

Fed Drops Rate to .25% -0 % ????

Anonymous — Tue, 16 Dec 2008 20:11:11 GMT

How could this impact refinancing and mortgage rates???

Re: Fed Drops Rate to .25% -0 % ????

DallasLoanGuy — Tue, 16 Dec 2008 22:43:59 GMT

not directly tied to rates.

however... we got a big reprice today. so, whatever you have been quoted should improve

Re: Fed Drops Rate to .25% -0 % ????

BBYGRL — Tue, 16 Dec 2008 22:50:58 GMT

Would it be difficult to say by how much? I'm waiting to hear from my broker. I was quoted 5.25% for an FHA loan yesterday. She did say we should wait to lock the rate since there was a chance it would go down.

Re: Fed Drops Rate to .25% -0 % ????

DallasLoanGuy — Tue, 16 Dec 2008 22:54:25 GMT

BBY

The lenders didn't give us all of the imrpovements.... they are holding back.
but over the next few days our rate sheets should look better.

so, yes, hard to say by how much

Re: Fed Drops Rate to .25% -0 % ????

BBYGRL — Tue, 16 Dec 2008 23:01:53 GMT

Gottcha. Thanks!