Oct 03 2008
Federal bailout is a success, now what?
With apparent liquidity boosting our financial markets the questions remains; now what? The passage of the $700 billion dollar bailout will help to restore some confidence but what about homeowners facing foreclosure? What do they get?
Word on the street is the Feds will lower the Fed Funds rate towards the end of this month. This news coupled with the approval on the bailout at the House level should encourage banks to lower interest rates. Many Florida Mortgage Professionals realize the interest rates home buyers pay is of course still controlled by the banks. Will they pass the savings to homeowners in Florida or other areas in the US? We can only wait and see.
If you are purchasing a new home or seeking to refinance your current Florida mortgage; please make sure you speak with a Florida Mortgage Professional next week and inquire about current low fixed rates. Make sure you get Good Faith Estimates form reputable companies and compare closing costs as well as interest rate.
For your free Good Faith Estimate and information on current Florida mortgage ratesplease contact BeechTree Mortgage at 888.399.0520.
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