Emergency Fed Rate Cut Should Help Those With ARMs
Baton Rouge homeowners should benefit from yesterday's Fed rate cut
Yesterday, an emergency Fed rate cut surprised the nation and brought interest rates down to near-record lows. While long-term mortgage rates will probably not be dramatically affected by the move, Baton Rouge homeowners with ARMs and with home equity lines of credit should benefit from the new rates. Inman News reports on the results of the emergency Fed rate cut:
The unscheduled and dramatic cut in short-term interest rates announced
today by the Federal Reserve will provide immediate relief for
borrowers with home-equity loans or facing interest-rate resets,
mortgage market experts say.
today by the Federal Reserve will provide immediate relief for
borrowers with home-equity loans or facing interest-rate resets,
mortgage market experts say.
For more on Baton Rouge mortgage rates and on Baton Rouge real estate news, contact Glenda Daughety.
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