My New Blog

3 Fed Rate Reductions - State of the Current Market

November 5th, 2019 9:16 AM by Jim Merrill

The Federal Reserve lowered its benchmark interest rate Wednesday by a quarter percentage point for the third time in the past three months. Mortgage rates dropped slighly, but not as aggressively as hoped. This is due in part to the fact that the economy is doing great and unemployment is super low. The bond market has not reacted with much excitement which has caused stagnation with mortgage rates. However, rates are still looking awesome and are very near historic lows. If you are considering purchasing a new home, or refinance your existing loan to lower the payment or term, or receive cash out, the timing is perfect.

For a free daily rate analysis please click on the following link, or cut and paste into your browser: www.axelmortgage.com/DailyRateLockAdvisory

Axel Mortgage's average underwriting turn time is still under 2 weeks. This is on both purchase and refinance loans. Our primary lender has recognized Axel Mortgage as a top 1% originator in the country for turn times and processing efficiency. We get the job done FAST and FAR cheaper than any "rocket" company. Compare this to the 45-day average turn times of any major bank and you will see our process and systems are unbeatable.

If there is anything I can do for you or anyone you know I look forward to help. As always, my family and I thank you for the continued support and referrals.

Posted in:General

Posted by Jim Merrill on November 5th, 2019 9:16 AM

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3 Fed Rate Reductions - State of the Current Market

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