The Fed's 1/2 point rate reduction earlier this week has started a domino effect rolling through mortgage rates. While the Fed rate really only affects the rate at which banks barrow money, it is cause for the inspiration of cheaper money. The more comfortable banks feel about the availability of money the more aggressive they can be on using this cheaper money. This "feel good" effect can pass through to many businesses, including the mortgage industry.
Already there has been movement in rates. For a full listing of current rates visit our website at Pink Flamingo Mortgage . And if you want weekly rates sent your email box to keep you up to date on the cost of money, sign up for Homefinders Club on our site. Homefinders Club is FREE and once you are a member you will receive weekly rate updates, and monthly mortgage news so you are always on top of the trends. AND, you can shop homes in San Diego Country any time day or night. You will get complete information, all current, and pulled from the local MLS. There is no easier way to stay informed on the local housing market.