Rate cuts again!!
I got this email from Kristen Phillips with People's First! Interesting:
"Today will be a big day this week as more news from Washington may rock the markets. First, the Fed will be holding another regularly scheduled meeting of the Federal Open Market Committee (FOMC). Look for the Fed to cut the Fed Funds rate (the rate for overnight loans between banks) by a half point, to 0.50 percent. While a cut by the Fed often causes home loan rates to rise (because a Fed cut can lead to inflation, which is the arch enemy of Bonds and home loan rates), the deflationary environment we are currently in may prevent home loan rates from worsening.
Another event to note on Tuesday is the release of November's Consumer Price Index (CPI) Report. This widely watched inflation indicator tells us how much more expensive goods and services are this month over last month, and with recent concerns on deflation - this will be an important report to watch. "
If you are on the fence and looking to lock in a good interest rate.... now if the time to do it!!
Kierston Schultz
294-0777
