Archive for December, 2007
Federal Reserve slashes Fed Funds Rate to 4.25%
The Federal Reserve Open Market Committee (”Fed”) today dropped its Fed Funds Rate, the overnight rate at which banks lend to each other, by a quarter percent. This cut, the third in as many meetings, will impact short-term interest rates such as those on adjustable-rate mortgages, credit cards and home equity lines of credit.
PMI and LPMI - the comeback kids
It seems as though I find valuable new mortgage information far more often than I ever expected when I started this blog. Let me know if this information was helpful…PMI (private mortgage insurance) and LPMI (lender paid mortgage insurance) have become popular again with the decline of second mortgages. LPMI is a great […]
Mortgage Activity Surges as Rates Hit 2-year Low
Have you seen the rates lately? I still consider anything under 8-10% to be a bargain. We might not see the 3-4% days for a while, but look back many years and you’ll see 8%, 10%, 12%, and even higher! Here’s some recent information that I found….
Last week, long-term interest rates dropped […]