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Article: Borrowers Predicting Mortgage Rates Based on the Fed's Rate Adjustments May be in for Unpleasant Surprises
- Article from:
- U.S. Newswire
- Article date:
- November 8, 2007
CopyrightCopyright 2007 U.S. Newswire. Provided by ProQuest LLC. (Hide copyright information)
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To: REAL ESTATE EDITORS
Contact: Rosalie Berg, Strategic Vantage for Mortgage Market
Guide, +1-305-971-5352, PR@StrategicVantage.com
HOLMDEL, N.J., Nov. 8 /PRNewswire/ -- Each time the Federal
Reserve (the Fed) cuts interest rates, borrowers converge upon their
mortgage representatives expecting lower interest rates.
Unfortunately, they find that mortgage rates often rise after the
Fed cuts rates, and those who have held off on refinancing or
locking rates thinking a Fed rate cut will reduce mortgage rates,
are actually faced with higher rates than before the Fed's rate
reduction.
"Consumers who are looking to get the best mortgage rates need to
understand that the Federal Reserve can only ...