Rates Hit the Lowest Point this Year!

This was forwarded to me from a lender I know and trust...

The FED committed 800 billion in additional money to help "thaw" lending out there which has spurred a frenzy in the bond market which dictates long term fixed interest rates. Even though the FED has committed funds for some time it has not resulted in any significant mortgage interest rate reductions as anticipated until now... There is speculation that rates will cool and rise back up as early as tomorrow but we never know...as evidenced by Wall Street, the financial sector and overall economy has never been so volatile as it has been recently!

What does this mean to you? If you are contemplating refinancing, consider your options now... 30 year Conventional and FHA rates are well below 6% and are down probably half a percent from yesterday...an unprecedented drop for a single day. There are options to refinance for no closing costs to minimize risk, ask me if that could make sense for you.

If you are looking to buy, now is time to optimize your rates if you can lock...

Take advantage... seriously!