will 30 yr fixed mortgage rates go down?
Written By: admin on June 19, 2009
2 Comments
now that the feds have cut the prime interest rate from 2% to 1.5% why have the 30 yr fixed mortgage rates not followed suit?
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Lenders are worried to lend. They have tightened credit standards, eliminated many mortgage and equity-line products, and increased rates. You won’t see very low interest rates in this lending environment. Some very qualified people can’t get loans at all. It’s not going to get cheaper now. I hope this explanation helps.
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