Thursday, January 1, 2009

Effect of 9-18-07 interest rate cut on mortgage interest?

(My Original Blog Post: http://www.latesttrendsguide.com/?p=2122)
interest rate cut
I'm in the process of refinancing my mortgage and am locked into a good rate guaranteed through tomorrow. However, we still need some requested documentation to finalize everything, and my lenders notified me that they can't guarantee the same rate if we don't close the deal as scheduled.

If we can't close tomorrow and have to reschedule later in the week, could today's half-point rate cut work in my favor by giving me a better mortgage interest rate?

By: Gala

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