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Tuesday, December 11, 2007

The Fed Lowering rates and Your Mortgage Rate

Posted by Brad Lynch
It's today that everyone in the mortgage and financial advising world are on the edge of their seats to see what the Federal Reserve decides on the recent rate adjustment. Some think .25% and others hope .5%. Just about any veteran Loan Consultant such as myself can expect clients and prospects to start asking the question, "will I get a better rate now that the Fed lowered the rate...". The answer to that is, "not congruent to the amount that prime changes necessarily, but over a couple days, it seems that the stimulus in the market that will reside from such a move will cause a "bettering" in the 30 year mortgage rate in the short term."

If you have been waiting for a good turn in the market for rates before you start your home search, now is the time. Rates really settled to a lowest rate seen in a couple years in recent weeks, and then started upward again this week and last. My guess is that in the next couple weeks or months, rates will hold, then settle a little before they make an upward swing again. If you want to catch this window of time for best rate options, go to this link and start a Market Watch so you can start actively seeking a home.

Best of luck in your Home Search
Brad Lynch
LivingInPlano.com
LivingInIrving.com
Frisco Plano Irving Home Loans
at 10:29 AM
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Testimonials & About Me

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Frisco, Texas, United States
In 2002, Brad Lynch began energetically consulting families in finding the right mortgage plan for their needs. In the beginning years, he was trained by a mentor who led by example, and this example was the epitome of integrity. Brad learned in the beginning by his mentor that many prospects may not consciously see what good intentions he has for them, do to the “wrap” many have caused w/in this industry, but always do what is right for the customer and in the end it will payoff. Integrity coupled with an energetic nature to nurture relationships, Brad has created clients for life. Through these clients for life, referrals have become the lifeblood of his business.