30 year mortgage rates drop when the fed cuts rates. Right? Most consumers think just that when they hear in the media the Fed cut interest rates. However, the rate the Fed cuts is the Fed Funds Rate which has nothing directly to do with mortgage rates. 30 Year Mortgage Rates vs. The Fed The [...]

Mortgage rates in the last week in May 2009 saw a dramatic and baffling increase. Mortgage rates rose from about 4.75% for a 30 year fixed mortgage to about 5.25% in a matter of days. We were getting lender rate adjustments via email sometimes three or four times a day. Needless to say, everyone wants [...]