Feb 08 2008
How does the Fed Rate impact Mortgage Rates?
In hope of thwarting a recession, the Federal Reserve took strong steps in the last 2 weeks: a 0.75% emergency interest-rate cut followed by another 0.5%, bringing its target short-term rate down to 3.0%. For mortgage holders, this is mixed news. On one side, the drop in rates will ease some homeowners’ mortgage pain. But it will also reduce savings rates. Here’s what to expect:
Mortgages
