Feds Drop the Rate, and Mortgages….Rise???
December 14, 2007
The mortgage market certainly didn't react as many would have hoped with this week's cut in the Fed rate. Rates actually inched upwards after the cut. This is not unusual, and it happened earlier this year after a previous rate cut. There are reasons why this happened: click here for a good article that explains it:
Mortgage Rates Rise Despite Fed Cut
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