FED FUNDS RATE

Don't count on getting a lower interest rate. First, read the fine print in whatever contract you're signing. The only interest rate that will automatically drop is the federal funds rate, which is what banks charge each other on overnight loans. This rate decrease can, and may, have an effect on the interest rate one might secure for a new loan (sooner or later). But the intent of the fed is to make it easier on those purchasers who secured an adjustable rate mortgage in the last three years or so.

A perfect borrower can, right now, secure for himself and his family a 6.25% interest rate if he negotiates. Call or email John at Tyler Texas Real Estate. http://www.johncmartin.com/. We're here for you.