Federal Reserve Cuts Interest Rates! September 18, 2007

The Federal Reserve cut its benchmark interest rate by a larger-than-expected half percentage point! This news has elated home buyers and home owners across the country. What does this mean to you? If you have a revolving HELOC, it has been at 8.25%, today it dropped to 7.75%, and you didn't have to do anything! If you are trying to qualify to buy a home, you just dropped the amount you have to pay each month towards the interest part of the payment OR you just increased your buying power! That means you can buy more house without raising your payments!

If you are struggling to make your house payment, this may just be the best time to refi that adjustable rate loan, or combine the first and 2nd. Call for more details. There is no cost or obligation.

Thanks!

Liane Thomas
REALTOR(R)
(951)454-3805
http://www.allcoronahomes.com/
http://www.freeriversidehomesearch.com/
http://www.lianethomas.com/