Fed Makes Bold Move

[Benjamin Dona]

I'll be darned if Beranke and crew didn't make a bold move today and lower both the Fed Funds & Discount rates.

As a Realtor® and Mortgage Banker, I have to give them a "tip of the hat". This is just what our ailing housing and mortgage markets needed!

[power broker]

I agree with you my friend. As a investor/loan officer, maybe now my business will pickup as well as me being able to look at some of the investment opportunities. Good luck to everyone

[Gjtrafl]

Do you think that our fixed rates will receive any impact from this rate drop. I have always heard that fixed rates are tied to other factors...

[Jason Painter]

Sounds good short term, but what are we gonna do to curb inflation? Its all good until a gallon of milk is 8 bucks and a loaf of bread is 4.

[Mack Perry]

The fed lowering these rates is great for short term interest rates and should help free up some money. I don't think it will have an immediate impact on mortgage rates though. I do think it was the proper step toward helping to stabalize the economy, at least I hope so.

[BuyHawkeye]

Hopefully, the reduction will unearth some of the prime credit borrowers. It won't do anything for the sub-prime borrowers as they will still won't be credit worthy.

[darrenwoodard]

I agree with Jason... The Fed needs to allow the economy to correct itself.

[ericbadgley]

I hope it helps stimualtes the market

[sellinggalveston]

I hope it does too... but was it not the loose money that was around for so long that got us here in the first place? I do think it will help people get excited enough to start thinking about buying again

[Sam Dodd]

I was just starting to enjoy the "weeding out" of the Mortgage and Real Estate field. This is sad to say but I make more money in a down market because 1/2 my competition goes back to waiting tables, retirement, and whereever else we got them from.