Global Banks Unite in Unprecedented Rate Cuts


Yesterday, Ben Bernanke and the Fed brought financial aid to the streets, lowering the Federal Funds Rate and Discount Rate by 0.50%.
In an unprecedented emergency move, central banks across the globe joined in lowering interest rates.
This move follows Washington’s passing of the $700 billion Rescue Plan. From Wall Street to Main Street, a common concern
has been heard by Washington. “We need money…no, let me rephrase that, we need cheap money.”
Rates Could Rise From Here
Home loan rates have benefited from the weakness in the financial markets. Fixed rate mortgages remain very attractive.
However, the Fed lowers short term interest rates to shore up financial markets. This could cause home loan rates to rise in the
coming weeks and months if confidence returns to the stock markets.
ARM Holders Take Notice!
Anyone that has an Adjustable Rate Mortgage (ARM), take note. The London Interbank Offered Rate (LIBOR) has soared due to uncertainty in financial companies. Six million home loans in the United States are tied to LIBOR which determines the
interest rate at the time of adjustment.
If you know someone with an ARM, let them know potential trouble lies ahead and the time to act is now.
What Should You Do Now?
Call us. We can go over your situation to determine how you can benefit from these actions. We look forward to hearing from you.

About Two Bald Mortgage Guys


Ken Blanchard, one of the country’s premier business leadership authors, says in his latest book, “To keep customers today, you can’t be content to merely satisfy them; you have to give them legendary service and create ‘raving fans’ – customers who are so excited about the way you treat them that they tell stories about you.” In everything we do, this is what we envision. We see people such as yourself being so enthused with the process and service we provide that you will become a raving fan for us, telling stories to people of what you just experienced.




CONTACT US

8202 Louisiana NE
Suite B
Albuquerque, NM 87113
Phone:
(505) 830-9685
Fax:
(505) 830-9684

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