Phil Osborne here with the Lehigh Valley Wealth Center Daily Interest Rate Update. Visit our website at lehighvalleywealth.com and enjoy over 200 hours of free educational content on mortgage financing, real estate investing and wealth building strategies.
Long term mortgage interest rates dropped today after dismal economic headlines. Bear Stearns a huge investment bank and the country’s largest holder of subprime mortgages was purchased for 2$ a share on Sunday by Chase. In an emergency meeting the Fed cut it’s discount rate, the rate at which bank’s borrower from the Fed by .25% and economists are projecting a full 1% off the Fed Funds rate tomorrow which will have an immediate impact on home equity lines of credit and other short term rates. To learn about the Fed Fund’s impact on mortgage rates visit our website
The upcoming shift in the economy will help smart real estate investors and homeowner’s save and earn thousands of dollars. So call today to schedule a free mortgage planning consultation at 610.432.6600 or visit lehighvalleywealth.com that’s lehighvalleywealth.com
