Biggest One-Day Mortgage Rate Drop in 7 Years!

Check out a blog post written by Kline May Realty’s Karl Waizecker titled “Biggest One-Day Mortgage Rate Drop in 7 Years!

It seems the Federal Reserve has hit upon a plan that will actually work.  Yesterday, based on the news that the Fed will buy $600 Billion of bad loans from banks (as opposed to bank stock) mortgae rates dropped from a national average of 6.38% to 5.5%!  This is a monumental drop in rates that will no doubt spur activity in the housing market.

About Lisa Oates

Lisa is the creative mind behind The Harrisonburg Homes Team, providing streamlined content management, quality authorship, and graphic design for Harrisonblog. She's passionate about blogging, enjoying life, and a good cup of coffee.