Fed Drops Rates Once More
So the Fed has dropped the Fed Funds rate by 3/4 of a percent to try to “stablize” the credit markets. The wierd thing about this it appears to help the banks more than us consumers. As the banks are trying to make more money on the spread between mortgage rates and the rate they need to borrow at.
What ever happened to those days that when the Fed drops the rate the mortgage rates would follow? Not in today’s market. But it does help stem the tide of even higher rates. I stink at predictions but why do I get the feeling that rates will continue to drop…