Q&A: How long will it take the latest 3/4% interest rate cut to affect the mortgage and loan companies rates?

by stirwise

Question by Cobabeology: How long will it take the latest 3/4% interest rate cut to affect the mortgage and loan companies rates?
With the Fed’s decision to cut interest rates, I understand that banks will follow suit and lower interest rates. How fast will it take for these changes to go into place? At what point should people begin to investigate refinancing their mortgages and other loans where it will actually reflect the new rates?

Best answer:

Answer by I. B. Zoxx
I just read an article on precisely this subject on Yahoo news. Here is a link to the article:

http://finance.yahoo.com/loans/article/104264/Fed-Cut-What-It-Means-for-Your-Mortgage

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