http://www.mortgagenewsdaily.com/3122008_Mortgage_Rates.aspMortgage interest rates made substantial moves during the week ended March 6 and 7, but according to surveys conducted by Freddie Mac and by the Mortgage Bankers Association (MBA) they made the moves in opposite directions. Freddie's Primary MortgageenCommunityServer 2008 SP2 (Build: 31106.96)http://www.mortgagenewsdaily.com/3122008_Mortgage_Rates.asp#9901Wed, 12 Mar 2008 11:00:00 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:9901Chris - Mortgage BankerFed changes to overnight bank rates have nothing to do with mortgage rates. Fixed mortgage rates are determined by the bond markets. I&#39;m recommending all my clients lock BEFORE the fed rate cut because the last SIX times the fed cut the overnight rate, mortgage rates increased significantly (for many reasons, but mostly because drastic fed cuts can easily trigger inflation which the bond market hates, and b/c investors pour into the stock market after rate cuts &amp; they often take their money out of the bond market to do this). Here&#39;s a http://www.mortgagenewsdaily.com/2282008_Mortgage_Rates_Fed.asp that might explain better.<div style="clear:both;"></div><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=9901" width="1" height="1">http://www.mortgagenewsdaily.com/3122008_Mortgage_Rates.asp#9900Wed, 12 Mar 2008 11:00:00 GMT2bb7a989-b681-446d-a7f2-bd5f0562f228:9900JRI am currently waiting to lock in my 30yr frm. Rates right now are around 6.25 (Mar 11)....Is the Fed meeting on the 18th going to affect the rates? I am hoping to get back into about 5.5% What are the chances?<div style="clear:both;"></div><img src="http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=9900" width="1" height="1">