It’s hard to miss the news of the FED rate cut today.  But just because the FED cut rates as expected, what were the short term implications on the mortgage market?

Mortgage News Daily’s rate blog released the following commentary 5 minutes following the decision:

About 90 minutes later, wholesale mortgage lenders dispatched rate improvement notifications.  This information would probably be exciting to potential borrowers and mortgage brokers who can now save hundreds of dollars based on our timely release, but we didn’t stop there.

The following bulletin was released in an effort to keep you updated on rapidly changing market conditions. It provides different points of view, and gives you information you can use to draw your own conclusions based on your opinion, experience, and risk tolerance.

Later in the day, more lenders announced deeper rate cuts, as the post indicated would be possible.

That’s two up-to-the minute releases today! Are we proud of this?  Of course!  Who wouldn’t be?

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