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October 29, 2008

Mortgage Rates Head Higher As Fed Cuts 0.5.

Just a quick post on what's happening with mortgage rates after the Federal Reserve Open Market Committee lowered their Overnight Rate by 0.5 this afternoon. 

This brings the Overnight Rate to the lowest point its been at since 2004.

So, are mortgage rates going lower?  NOPE.

We are just starting to receive repricing notices that pricing on mortgage rates will be worsening this afternoon.

I know, I wish I could be the bearer of good news.  I really do!

www.BrettGrendahl.com

Posted at 03:02 PM |

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