Lowest Lake Mary Mortgage Refinance and Purchase Rates in over 2 years!? If you move quick…

Well Good News for Lake Mary mortgage rates! The Federal Open Market Committee [maybe we will just call them the FED] voted to cut the Fed Funds Rate by at least three-quarters percent Tuesday.
The benchmark rate now rests in a range of 0.000-0.250%… and no, that doesn’t mean your mortgage will be at 0%. [Typically you will add 3% to that number to attain the PRIME Rate – which is what many Home Equity Lines, car loans, credit cards, and equipment loan are based upon.] In its press release, the FED ID’d 3 key sectors…

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Source Parsing the Fed Statement

Chris Brown All Around Good Guy Trinity Mortgage 153 Parliament Loop#1001Lake Mary, Florida, 32746	Work: 407 377 0500 x 210 Chris@OrlMtgPro.com www.MortgageChiliBlog.com
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Lake Mary Refinances: ARM Rates FALL

SO how are the evil mortgage products doing? Huh, they may actually be better than the fixed products? Maybe they aren’t evil after all… just different.

It is true that some of the wrong people got bad advice from some neophyte mortgage ‘professional’, but the good news is that those folks are back waiting tables.

The interest rate against which adjustable-rate mortgages [ARMs] change is continuing to fall — This could very likely be the evidence we need indicating that the worldwide banking system is starting to stabilize.

On any ARM, the initial “start rate” remains fixed for some period of time [typically 3 – 5 – 7 – or 10 years], and then adjusts according to some pre-determined agreement. It is more a hybrid than it is a pure “ARM”.

For a conforming mortgage, an ARM will typically adjust once per year after that initial locked period, based on this formula:

[index] + [margin] = Adjusted Rate

Where the index is often assigned…

Read the complete blog post here:

Lake Mary Refinances: ARM Rates FALL