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75 Basis Point Cut

January 22nd, 2008 at 05:31 am

Breaking news....

Fed lowered rates by 75 basis points at 8:20 today. Federal Funds rate at 3.5%.

For those looking to refinance, this week might be the week to do it. Keep an eye on the treasuries.

I expect with today's meltdown, money will be flowing into treasuries causing prices of treasuries to rise and the yields to plummet (proce and yield have inverse relationship, like seesaw). So, you should see mortgage rates down this week.

1 Responses to “75 Basis Point Cut”

  1. Broken Arrow Says:

    Oops, so it's already happened. Big Grin

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