Question by JPA: Mortgage Refinancing and Fed Rate Drop?
The Fed is expected to drop interest rates again soon (50 basis points, maybe as much as 75 basis points). How is that likely to affect the mortgage refinance rates (would it be better to wait a few days or to refinance now)? Thanks
Answer by newjerseyguy
New loan rates are not likely to immediately drop very much in response; they aren’t directed tied together. It may affect some ARMs more directly.
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