Recent events have generated a lot of questions, so we’d like to help answer some of the more frequently asked: The Fed lowered its rate, can I get a 0.25% mortgage? No. The Fed lowered the Funds Rate. The Fed Funds Rate is the overnight rate that banks can lend to each other. When this […]
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How Coronavirus has effected the Mortgage Economy
Recently, growing fears around the spread of the coronavirus have led to increased volatility in interest rates. With the Fed cutting its rate to 0.25% (the lowest it’s allowed), markets have been spinning off chaotically, bouncing up and down and causing many lenders to curtail pricing and temporarily suspend locking loans. While there is still […]