Rate Drop Could Be Good News For You!
There was rate movement finally and the Fed just dropped by .50%! Although it could affect long term rates immediately, so far we have only seen lenders sending out emails, such as this blog entry, stating the same headline! We will see, probably later today or sometime tomorrow how bond buyers feel about this latest rate movement. For it is buyers of U.S. Treasurys bonds and at the same time, Mortgage backed securities that will determine how low home lending rates will be. We will monitor this and let you know as soon as a direction is established…but for now, let’s celebrate what we all though should have happened quite some time ago…Rate movement in the right direction! If you would like to discuss now, then call Michael Mitchell at Mitchell Mortgage, 707-337-5970 mobile and 530-406-2200 or 707-259-1117 land lines! Talk to you soon!
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