Fed Cuts Rate

The Federal Reserve Wednesday cut a key interest rate by a half point in another attempt to encourage banks to stop hoarding cash and start lending it again. It was the second rate cut this month. Mortgage rates have risen over the last four days as a result of other market news. The 30 year mortgage rate is not tied to the Fed's actions however mortgage rates remain in a favorable range around 6.5% now. To apply for a mortgage gather 2 years of income statements, 2 months of bank statement's, recent retirement statements and make an appointment with us today. 414-416-9194

Federal Reserve Cuts Rate a Quarter

The Federal Reserve Wednesday cut a key lending rate by a quarter of a point. The prime lending rate is now 5%. The Federal Reserve actions do not have a direct affect on long term mortgage rates. 30 year mortgage rates are available at 5.875% for credit worthy borrowers.