Mortgage Rates Message Board

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Strategies & Market Trends : Mortgage Rates

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To: saju chacko who wrote (18)	3/18/2001 9:34:30 PM
From: saju chacko	Read Replies (1) of 40

according to rates published at bloomberg.com CURRENT Mortgage Rates Curr. 15 year mortgage 6.25 30 year mortgage 6.67 1 year ARM 6.33 FEB 10, 2001 30 yr at 6.72 and 15 yr at 6.35 i think after mon mar 20, a discount rate cut, (the rate that banks loan other banks money), of 50 to 75 bp will directly affect mort rates. before the rate cut, the fed funds rate, (the rate the fed reserve loans money to banks), is 5.0%. a 50bp discount rate cut might reduce the fed funds rate to 4.75%. the next FOMC meeting is may 25 where there might be another 25 bp to 50 bp discount rate cut which will could reduce the fed funds rate another 25 bp. after the may 25 FOMC meeting, i don't think we'll get much more rate cuts. (of course, i am not informed enough to make this conclusion) the point is this : if you want to refinance or get a loan, then wait as close to may 25 as possible. if you just want to get close to the best rate then the best time is between some time late this week to 10 business days after that. Saju

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