How low will the mortgage interest rate be in motion next to the feds recent interest rate cut?
Answers:
it really depends on how the market take this move. Based on today's stock market leisure, they are not taking it very well and stocks are still down. If the stock flea market and equities both domestically and internationally continue to drop, it will be good report for rates. If stocks recover the losses they've taken early this week, next rates will shoot back up. It's too early to give the name. Source(s): http://www.ratezip.com/mortgage.html
These rate drops will help Home Equity loans for the short occupancy but won;t do much for 30 Year fixed mortgages. Rates are fairly low right now anyway.
For new mortgages, very little. Mortgage interest rates hold very little to do with the Fed Funds rate. Fed Fund rates are short residence rates between banks. A mortgage is a long term loan and the mortgage company is looking at what it think rates will do long term.
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