Assuming the Feds interest rates on Sep 18, how soon will mortage rates drop. I am closing on a house soon.?
How soon after the Feds agree on to lower rates do consumers start reap benefits.
Answers:
believe it or not...if those feed rates drop after the interest rates are going to escalate. The feed arent lowering the 'feed funds rate', but they are lowering the 'discount rate'.
Fed funds rate affect the Prime Rate. Prime rates ONLY affect 2nd mortgages, credit cards, and student loans.
A few weeks ago, they lowered the discount rate and the mortgage rates go up. When the FED comes within to amass the cutback, the consumers gain MORE confidence. This is why you saw the souk be in motion up when they lowered the discount rate.
If the open market is doing dutiful later the mortgage rates are going to be high-ranking. Mortgage rates are artificial by the 10yr bond rates. If the bazaar is doing okay.nobody will want to invest it in bonds! As you notice the marketplace have be going down, and so enjoy the mortgage rates. 911 be a flawless example of when the flea market crashed.and the mortgage rates be at its lowest.
they are not dropping the rates, hence the market counterattack, they simply said the mortgage / housing mess will hold minimal impact on the discount, hence no drop contained by rates
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Answers:
believe it or not...if those feed rates drop after the interest rates are going to escalate. The feed arent lowering the 'feed funds rate', but they are lowering the 'discount rate'.
Fed funds rate affect the Prime Rate. Prime rates ONLY affect 2nd mortgages, credit cards, and student loans.
A few weeks ago, they lowered the discount rate and the mortgage rates go up. When the FED comes within to amass the cutback, the consumers gain MORE confidence. This is why you saw the souk be in motion up when they lowered the discount rate.
If the open market is doing dutiful later the mortgage rates are going to be high-ranking. Mortgage rates are artificial by the 10yr bond rates. If the bazaar is doing okay.nobody will want to invest it in bonds! As you notice the marketplace have be going down, and so enjoy the mortgage rates. 911 be a flawless example of when the flea market crashed.and the mortgage rates be at its lowest.
they are not dropping the rates, hence the market counterattack, they simply said the mortgage / housing mess will hold minimal impact on the discount, hence no drop contained by rates