The Fed lowered the Fed Funds Rate by a quarter-percent to 2.000% this afternoon. Because it is tied to the Fed Funds Rate, Prime Rate also fell by a quarter-percent. Prime Rate is now 5.000%. Holders of home equity lines of credit and credit card debt benefited from the change and will see lower interest [...]

***BREAK NEWS*** Fed’s dropped their target rate by .25% to 2.00% The Federal Open Market Committee adjourns from its two-day meeting at 2:15 P.M. ET today. Markets expect the Fed to lower the Fed Funds Rate by 0.250 percent in its press release but it’s not what the Fed does that matters to economy right [...]

The Federal Open Market Committee adjourns from its two-day meeting at 2:15 P.M. ET today. Markets expect the Fed to lower the Fed Funds Rate by 0.250 percent in its press release but it’s not what the Fed does that matters to economy right now. It’s what the Fed says. If the Fed states that [...]

RealtyTrac released Q1 2008 foreclosure statistics and the data follows an interesting statistical phenomenon most commonly known as the “80/20 Rule”. The 80/20 Rule states that 80 percent of the effects come from 20 percent of the causes. In this case, 80 percent of bank repossessions in the first three months of 2008 came from [...]

So the Federal Reserve cut rates again. Many mortgage applicants are calling their mortgage representative and expecting a lower interest rate. Others who have been waiting to refinance are puzzled as to why mortgage rates have not moved lower during recent 5 Fed rate cuts. In fact mortgage rates are now higher than they were [...]

Mortgage markets lost ground last week on inflation concerns and a general feeling that “the worst may be over” on Wall Street. As investors moved money into the stock market, mortgage rates ticked higher for the second straight week. The biggest story from last week was the rising cost of gasoline. Rising energy costs combined [...]

Why Fed Rate Cuts Do Not Equal Lower Mortgage Rates Last Updated: April 23, 2008 The Federal Reserve has been on a rate cutting spree once more. Many mortgage applicants are calling their mortgage representative and expecting a lower interest rate. Others who have been waiting to refinance are puzzled as to why mortgage rates [...]

Newspaper headlines rarely tell the full story and today’s papers provide a terrific example. From the Baltimore Sun (and others): New-home sales lowest since 19918.5% March decline exceeds forecasts; prices also tumble As always, there’s more to the story than the headline. The Census Bureau reported a 8.5 percent decline in New Home Sales last [...]

More than 130 million Americans will receive tax rebates this year as part of Congress’ $168 billion economic stimulus package. Payments begin in about two weeks and range from $600 for individuals to $1,200 for couples, plus an additional $300 per child. Not everyone is eligible for a full rebate, however. For single filers earning [...]

This was forwarded to me in an email and I am posting it here, because I believe it’s important to remember. Enjoy, Michael Eiden After 21 years of marriage, my wife wanted me to take another woman out to dinner and a movie. She said, ‘I love you, but I know this other woman loves [...]