Are Mortgage Rates Lower Now with Fed Rate at 2.25%?

With Fed Rate at 2.25% the mortgage rates are much lower now but not the same everywhere. I found that just one lender may have different rate pricing depending on state. For example Wells Fargo had a 30 year fixed in FL at 5.75% while in CA the same term had a 5.875% fixed rate and MA had 6.125%. Lenders who use their money money were offering rates as low as 5.25% 30 year fixed. I suggest you shop around before you lock into anything.

FED CUT FED RATE 0.75% TO 3.50%

After an ugly start in the stock market the Federal Reserve came out shortly after 8AM and announce a Fed rate cut of 0.75%. This rate cut will help the housing and mortgage market. This morning a 30 year fixed mortgage rate was 5.125% no Points. This is great news! It's great time to refinance right now to a 30 year fixed mortgage and also buy a new home. The rates are very low and the home prices in many areas are down 5% or more.

Ally
http://www.rmdirect.net/

More Mortgage Trouble For Stock Markets!

Ex-mortgage broker believes the stock market is in for more troubling news regardless of Fed’s rate cut. Ally says, "Fed needs to cut the Fed rate down to at least 3.0% for the market to get any better and those who have adjustable rates and fell for the option arm start rate of 1.25% are in for a rude awakening. Lenders and brokers are qualifying millions of Americans for Option ARM program with start rates as low as 1.25%. Usually someone who can’t afford and won’t be able to afford a $400,000 home in the next 6 months will qualify for that program and foreclosure is just a matter of time. As long as people are qualifying for these programs we will have bad news. The Federal Reserve may cut the rates down but when it comes time to increase them again we will have even more problems." http://www.rmdirect.net/

"2%" Interest Rate TAX