The Federal Reserve made a 50 basis point drop to the Fed Funds Rate to help try to stabilize the financial markets. The markets have been in a distressed mode since the Coronavirus has been expanding internationally. Interest rates have already been dropping as I’ve indicated on my prior blog Virus Sends Interest Rates to Historic Lows. This rate change won’t eliminate a supply chain issue, just targeted towards market psychology, and adding liquidity into the system.
Will they make another change? Was the drop a waste of fed bullets? We’ll see soon enough.
Refinances are making sense right now. Feel free to call if you want to crunch numbers.
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me
Ron Henderson GRI, RECS, CIAS
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018)
Chairman – OutWest Marketing Meeting (Real Estate Education)
BRE #00905793 NMLS #310358
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth
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