Fed Cuts Rates: Will RV Rates Follow?
The Fed cut rates 1/2 percent this morning in an effort to keep the stock market bubble growing. I'm negotiating a new RV loan to close in 10 days and the dealer quoted me 5.49% last week. I haven't...
Forum Discussion
Mortgage rates will fall but not as much as you think they might with a 0.5% rate cut. Problem is there is only so much money that can get lent for mortgages and there are only so many banks and lending institutions that can process all the refinances. That causes so much demand that the lending institutions can keep the rates still fairly high yet process as many loans as they possibly can. You may have to wait 3 months to get a loan through because of the high demand.
Basically, they will lower the lending rate to fill their loan pipeline. Once they supply all that and the Fed hasn't raised rates back up, then you might see an even lower home mortgage rate.
Basically, they will lower the lending rate to fill their loan pipeline. Once they supply all that and the Fed hasn't raised rates back up, then you might see an even lower home mortgage rate.
