10/29/2008 5:16 PM
Michael wrote:
Since the Fed did, indeed reduce the Fed Funds Rate to 1% today, corresponding retail interest rates should decline as well. This is the lowest rate since June 2003 and that was low. This may well be the time to seek a mortgage and you may want to look at the smaller local/regional banks. Those banks typically did not participate in the exotic investments and huge corporate loans that have affected (infected) the largest banks. You may have better luck in your own hometown. Reply to this
10/28/2008 9:06 AM
Fed weighs another rate reduction (http://tiny.cc/XVAGf) . . . Good time for mortgage? or wait?
Reply to this
Since the Fed did, indeed reduce the Fed Funds Rate to 1% today, corresponding retail interest rates should decline as well. This is the lowest rate since June 2003 and that was low. This may well be the time to seek a mortgage and you may want to look at the smaller local/regional banks. Those banks typically did not participate in the exotic investments and huge corporate loans that have affected (infected) the largest banks.
You may have better luck in your own hometown.
Reply to this