Fed cuts rates by a quater on Sunday
March 17, 2008 | Brian Lebars | Comments: (0)
Sunday afternoon the Fed took action and cut interest rates by a quater point. This is the first-time the Fed has cut rates on a weekend since 1979. the Fed is trying to stay ahead of the market and influence liquidity in the shadow of Bear Sterns downturn and JP Morgan chase purchase offer. Keep [...]
If a Quarter Point FED cut wasn’t enough then now what for the Mortgage Market?
December 13, 2007 | Brian Lebars | Comments: (1)
The Federal Reserve Tuesday announced that they would act in the form of a Quarter Point Rate Cut for the last action of 2007. Investors on Wall Street had anticipated a half point cut and showed their disappointment by punishing stocks and driving the 10yr bond yield higher (actually lowering the yield and consumer borrowing [...]
Will the FED Cut affect consumer interest rates today?
December 12, 2007 | Brian Lebars | Comments: (0)
With the FED poised to cut the “Fed funds rate” today by a quarter to a half point what does that mean for your interest rate? Historically as a Mortgage Broker my phone will start ringing around 2:30pm after the 2:00pm announcement with clients asking to refinance their current mortgage stating, “Rates went down by [...]
