Rates are going down!

Ok folks, here it is! I posted an article on Realboomtown.com back in September that mortgage rates may hit 4.5% and it looks like it could happen.

Can I get an AMEN? Here's the way it breaks down, the Fed plans on throwing money at mortgage backed securities like there is no tomorrow. In doing so, mortgage rates are going down.

Fortunately, I'm able to do loans in all 50 states (hint, hint.) So if you need help, advice, or consultation feel free to call me.

On other news, the Fed announced today that they are dropping the Fed Funds Rate to a range between 0%-.25%. This will have an effect on your equity line, car loan, credit card, etc. It does NOT have an effect on your long term mortgage rate (30 yr, 15 yr, etc.)

And the best part? They are going to do this for a long time.