We are finally starting to see rates go in the right direction…Down. 

Interest rates still have a way to go and the Fed knows it since yesterday they lowered the discount rate (http://biz.yahoo.com/ap/080317/fed_credit_crisis.html)  and this week are expected to lower the Fed Fund rate further.  Hopefully these moves coupled with the poor economic reports we are seeing, interest rates we are seeing at the street level will go lower than what we saw before the fed got involved 2 months ago.  ((Back then interest rates were a full .75 to 1.00 lower than what we are seeing today))I of course will keep you up to date on interest rates and their direction.  In the meantime, please feel free to call or email me with questions.

Have a great week!

Best regards,

Rob McCarthy

Owner and Senior Mortgage Planner

408-377-4123 Direct www.thehontegroup.com