Financing in 94587>Question Details

Ken, Home Buyer in Union City, CA

Union City Ca. How low will 30 yr fiixed rates go w/ 9/18/07 ½ pt fed cut ? fico @750

Asked by Ken, Union City, CA Tue Sep 18, 2007

re-explore re-fi for lower monthly rate ??

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We may see some movement but probably very little.

There will be an immediate result with equity lines since the prime was reduced.

It will take several days for the dust to settle and we will have a clearer picture where the fixed rates are going.
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0 votes Thank Flag Link Tue Sep 18, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
The feds dropped the federal funds rate and the discount rate which is the rate banks pay for money.

We might see a little movement in the fixed rates but more likely any drop in rates will more likely affect adjustable rate mortgages.

I received emails for mid-day price changes a while ago. Give it a day or so to settle in and we can better advise on rates once we see what effect this drop will have on rates.
0 votes Thank Flag Link Tue Sep 18, 2007
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