I had received a comment in yesterdays post about the fed cut and mortgage rates. The question was if fed cuts don’t affect mortgage rates than what does? I was unsure on this one so I turned to the expert.
Darren Corder from Chase had this reply for me.
Filed under: Mortgage info on March 19th, 2008 | 1 Comment »
The Fed has cut rates by 75 basis points. These cuts in the federal funds rate does not neccessarily mean that mortgage rates will go down. Rates may go down after this week’s rate cut, but they also may go up, as they did after the Fed’s rate cuts in January cuts.
It is impossible to know what impact the Federal rate [...]
Filed under: Mortgage info on March 18th, 2008 | 1 Comment »
Good news! The new FHA loan limits were just released today. The new FHA loan limit for Cecil County homes is $420,000 the old limit was $292,685. The new FHA loan limit for Harford County homes is $560,000 the old limit was $362,790. This is great news for anyone looking to buy a Cecil County [...]
Filed under: Mortgage info on March 6th, 2008 | No Comments »