PMZBuzz.com: Fed announces quarter-point rate cut

Haven't had an opportunity to write another piece but would like bloggers to note : Fed announces quarter-point rate cut
Posted (Roy McKenzie) in breaking news, news, mortgage on December-11-2007

The stock market plunged today as Federal Reserve Chariman Ben Bernanke announced that the fed would be cutting interest rates for the third consecutive time by a quarter point.

What does this mean for homeowners? While this won’t be the key to fixing the economy, it does mean the Federal Reserve is on our side:

1.Purchasing a home is even more affordable with the new lowered interest rate.
2. With a lower interest rate, now is a great time to refinance!
3. Home equity lines of credit will now be cheaper.
4. Rate resets might not be as severe for borrowers with adjustable rate mortgages

find this article and many more at http://www.pmzbuzz.com/2007/12/11/fed-announces-quarter-point-rate-cut/ and www.PMZbuzz.com

Real Estate Answered is Cindy Chen, your California PMZ Realtor.