Everyone needs to have a blog. That's what I heard today from a very savvy lady from a home inspection company.
So with that in mind, this is the first post in what should be an informative and interesting blog for myself, at least, and hopefully for those who choose to read it.
The Fed met today and after the Fed's half-point reduction in September, most investors expect the central bank to deliver a quarter-point cut at the conclusion of its two-day meeting on Wednesday.
Remember to warn your clients that this rate cut is for short term rates and will not directly affect mortgage rates in the immediate term. In fact, mortgage rates may see a slight increase over the short term before returning to present levels after a few weeks.
What may be affected is the adjustable rate being charged to current owners of HELOCs. That is good news for me. I have a HELOC in the primary and secondary position.