Helping Washington State homeowners learn more about their mortgage options.
Just in time for the holidays, the FOMC surprised everyone by cutting the Fed Funds 
rate to a range of zero to 0.25%. This 0.75-1.00 reduction is more than the widely anticipated 0.50% rate cut. The Fed also reduced the Discount Rate by 0.75% to 0.50%.
Bernanke and the FOMC didn’t stop with the giving there…they reiterated their commitment to buying mortgage backed securities which keeps mortgage interest rates low.
My clients and readers ask such great questions…I just received this one from one of my clients that I’ve been working with since June of this year:
“…with all the rate changes how is our pre-approval looking? It the original amount still applicable?”
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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