Phil Osborne here with the Lehigh Valley Wealth Center Daily Interest Rate Update.
Long term mortgages rates rose today after trader’s sold off mortgage bonds to buy stocks. The Fed dropped the benchmark fed funds rate by .75% which immediately impacts all short term rates, credit card rates, and lines of credit. So WHY did long term rates go up? Mortgage rates are not controlled by the Fed Funds rate, mortgage rates are determined by the trading of mortgage backed securities on the bond market. For a free article explaining this visit our website at lehighvalleywealth.com and click on additional content and teachings.
Are you shopping for a mortgage? Are you confused about your options? You deserve more than 10 minutes and an interest rate quote. Call the Wealth Center today for a free mortgage planning consultation and we will take you through our Wealth Center Advantage System. You will receive expert advice, full education and analysis of multiple loan options, and most importantly you know the truth about money and how to build wealth. So call us today at 610.432.6600 or visit our website at lehighvalleywealth.com that’s lehighvalleywealth.com
