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Home Fed Cuts 30 yr Mtg?

Fed Cuts 30 yr Mtg?

Ben Bernanke cuts fed rateDiana Olick from CNBC wrote an interesting article about this. Here's the highlights:
  • The 30 Year Fixed mortgage rate is NOT tied to short-term treasuries.
  • Today's cut will affect short term ARMS, but not by much.
  • This rate cut will not stop the foreclosures that are about to happen.

Diana made a couple statements in addition to these facts, one I agree with and one that is just false... impact of fed rate cut on mortgages

Click the read more buttong to find out more about the impact of the fed rate cut on mortgages >>

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This news update brought to you by

The Ed Nailor Mortgage Team

Charlotte Home Loans

704-651-8704 phone or visit www.EdNailor.com

Posted Tuesday Jan 22