If you bought your home in 2007 and your mortgage is a conforming home loan, you may be able to take advantage of the current mortgage market conditions and lower your mortgage rate. As of this morning, mortgage rates are near their lowest levels of the year. Of course, not every conforming borrower is eligible. [...]

The Fed lowered the Fed Funds Rate by 0.250% yesterday. The widely-expected rate decrease was well-received by stock markets to the detriment of mortgage bonds. Mortgage rates climbed higher yesterday afternoon as demand for mortgage bonds waned. This further illustrates that the Federal Reserve does not control mortgage rates. The FFR fell; mortgage rates rose. [...]