Fed cuts rates just as expected
This rate cut is unlikely to effect longterm mortgage rates significantly. However it may stimulate buyers back into the market place where they will still have the negotiating power over sellers. The housing correction is expected to continue on for at least the next six months. If you are a buyer or working with buyers it is important for them to know that this market has been the best time to buy in years! Long Term Mortgage Rates are still very attractive and the payment on those HELOCs continues to decline!
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