The Feds Lower the Prime Rate Again

At this rate there will be nothing left to cut soon. The prime rate is at 1% now, which is the lowest it has ever been. The only other time it was this low was in the 1950’s when Eisenhower was President. But desperate times call for desperate measures (and we assure you the Feds are desperate).
Below is a video analysis of all this activity today. Just remember, as we posted on Oct. 16, the Feds lower the prime rate does not usually mean lower mortgage rates. In fact, as is more typical, rates rose today. Mortgage rates will typically move more on rumor with the Feds then it will with what they actually do. This cut was fully expected and rates, as a result, have been going up quickly over the last week. If the Feds would not have cut the prime rate then mortgage rates would have probably gone down. Our economy moves on emotion (more than you can imagine).
We are always happy to walk you through this odd part of our economy. Call us anytime.

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.


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