The Federal Reserve cut the Fed Fund Rate by .75% making the Fed Rate now 2.25%. The stock market loved this cut as the Dow climbed on the news. Even the financial stocks are doing well today as several of the financial companies reported better than expected profit reports.
While the stock market rallied, the bond market lost ground. Remember, the bond market sees the lowering of the Fed Fund Rate as inflationary. And it is the bond market that dictates the long term interest rates.
Even with all this volatility going on, it is still a good time to buy a home. Prices are down and overall, interest rates are low.
As always, I am available to help you decipher the market conditions and help you make informed decisions.
Until next time, make every day an inspired day!
Betsy Moore
betsy@mooremortgagesolutions.com
206-331-2749
Absolute MortgageA division of Pinnacle Capital Mortgage WA CL-81395Betsy MooreMortgage Advisor MLO# 1181652800 Northup Way S-220Bellevue, Washington 98004 betsy@absoluteloans.comPhone: 206-331-2749Fax: 425-822-7885 An Equal Housing Opportunity.Copyright © 2011 Absolute Mortgage All rights reserved.
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