Tuesday, September 18, 2007

Important Fed Meeting!

The much anticipated Fed decision arrived with a fanfare! The Fed surprised us all with a half point cut in both the Fed Funds and Discount Rates. Stocks closed higher with their largest gain since 2003.
What does this mean? Rates on consumer debt, car loans, and Home Equity lines will all benefit. But, because Home Loan rates are tied more closely to inflation, it is not uncommon to see less of a reaction, or even an opposite reaction in mortgage rates.
Overall, I'd call this pretty good news!

Search the MLS for Ventura County Real Estate at:
www.HopeGoss.com

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