Looks like Ben Bernanke cut the Federal Funds rate another .5 of a point. The Dow jumped on the news, let’s just hope we are on the way up without too much more of a roller coaster ride. Read the Associated Press story.
As the Fed rate continues to impact interest rates on home mortgages, we are likely to see a wave of refinancing over the coming months. Someone told me it’s not worth refinancing unless you can get at least 2% lower than your current rate, but I’m not sure the potential value can be calculated in such a straightforward way for everyone. Thoughts?
Tags: Associated Press, Ben Bernanke, Bruce McCain, credit crisis, credit crunch, economics, Federal Funds rate, Federal Reserve, inflation, interest rates, Key Private Bank, mortgages, rate cut, recession, roller coaster, sub prime
February 14, 2008 at 8:05 am |
[...] Stocks Jump Following Interest Rate Cut Looks like Ben Bernanke cut the Federal Funds rate another .5 of a point. The Dow jumped on the news, let’s just hope we are on the way up without too much more of a roller coaster ride. Read the Associated Press story. As the Fed rate continues to impact interest rates on home mortgages, we are likely to see a wave of refinancing over the coming months. Someone told me it’s not worth refinancing unless you can get at least 2% lower than your current rate, but I’m not sure the potential value can be calculated in such a straightforward way for everyone. Thoughts? [...]
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