Mortgage Weekly Update - Last Week in Review
Foster Weeks publishes a weekly mortgage report which is updated every Monday morning. How is this affecting the San Francisco real estate market? Read our weekly and monthly market reports."A GOOD CONSPIRACY IS UNPROVABLE. I MEAN, IF YOU CAN PROVE IT, IT MEANS THEY SCREWED UP SOMEWHERE ALONG THE LINE." Mel Gibson as Jerry Fletcher in the movie, "Conspiracy Theory" And those who believe in the conspiracy theory that the Fed has access to economic data in advance of the official release dates sure felt their position was proven correct last week...let's take a look.
The main financial event of the week was the Fed, cutting the Fed Funds Rate another .50%, on top of their surprise .75% cut just eight days before. This brings the Fed Funds Rate down to 3.00% and will lower rates for business and consumer loans as well as Home Equity Lines of Credit and Adjustable Rate Home Loans - so please give me a call to discuss how this may help you. Bonds and home loan rates moved with volatility throughout the week, yet ended up close to where they started on Monday...
Read the entire report here.
- Foster Weeks
posted by SFResidence.com @ 12:13 PM
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