The Federal Reserve Board announced that they decided to hold the Fed Funds Rate steady at 2% on Tuesday August 5, 2008. Most people had assumed the Feds would hold the rate steady but will probably have to raise the rate sometime in the near future because of rising inflation. The stock market rallied on the news which has forced mortgage backed securities to trade lower. Coupled with the news that Freddie Mac reported a daunting loss, mortgage rates have jumped up considerably.
If you need help qualifing for a home loan for the purchase of a new home or refinancing an existing mortgage, please feel free to contact me at 302-368-7132 or send me an e-mail to DelawareMortgages@yahoo.com.
John Thomas - Certified Mortgage Planner - Primary Residential Mortgage
If you are a Delaware First Time Home Buyer, then you should sign up for one of our monthly First Time Home Buyer Seminars by visiting www.DelawareMortgageLoans.net/seminars
As a Certified Mortgage Planner, I help people achieve their dreams and goals by assisting them in designing financial strategies that work for each client to accomplish financial freedom.
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