FHA Home Mortgage Loan Interest Rates

4 Responses to “FEDERAL RESERVE CUTTING RATES AGAIN…will this get me a better rate?”

1. r h says:

   January 17, 2010 at 11:59 am

   Its possible, but the reduction by the fed in rate cutting hasnt really reduced the mortgage rate much yet. But since it has dropped quite a bit, there is a strong possibility that it will. I believe mortgage rates are about 5 3/4. I personally was able to refinance and pay off a couple of properties and have just one mortage at 4.9 which is incredible. But I would keep looking very strongly at the rates and they very well may go down. If they do, I would grab it immediately cause they wont go down much and wont stay forever..excellent luck to you and fantastic question.
2. acermill says:

   January 17, 2010 at 12:13 pm

   The Fed cut does not affect long term mortgage interest rates. Such rates are tied to longer term Treasury notes and similar. The Fed rate cut WILL affect those with HELOC’s, credit card debt holders, and similar.

   But it will be of no benefit to you.
3. Horatio L says:

   January 17, 2010 at 12:14 pm

   Honestly, you will not get a lower rate. 30 year fixed rates are priced according to long term bonds/treasuries. Since the Fed has signaled that they probably will not cut rates in the future, the yield curve has been adjusting itself upward.

   If you currently had an adjustable rate loan, then yes, the recent rate cut could help alleviate your adjustment.

   But, people looking for new loans are out of luck – chances of mortgage rates dropping are slim to none (and I am heavily leaning towards none).
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   January 17, 2010 at 1:12 pm

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