Well that makes the prime lending rate a low 5.5% but the fed's are trying to get the economy up,and running again what's bad about them cutting these rates is once they get the comsumers to spend,and spend in hopes to feul the economy look out we are going to get f***** big time in the days to come!If you know what i mean.
But the good news is for me is I can refinance my new FHA mortgage from 7.25 to 6.5 with only $1000 in fees! Since the Gov't came up with this streamline refinance program for FHA borrowers, you only have to contact an FHA lender and get the ball rolling. No appraisals, credit checks, etc!
