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Fed cuts rate, now what?

Posted on December 16, 2008 by Ray Williams (NMLS #216267).

As we know by now, if you follow my blog, the fed rate cuts don’t equal lower mortgage rates.

Check out this article I found of interest tonight on what to expect after the rate cut. He makes a few good points that I normally don’t cover.

In short my advice is to not get stuck in the cold. Rates are at 50 year lows. What that means is if you wait for lower rates you may end up losing out on the already low rates. If you can refinance into the 5% range and it makes sense don’t hedge the market for lower rates. I have seen many people play that game only to lose. If your mortgage guy is refinancing, something is up! As I am right now.

check out My other blog from tonight~

Ray

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