Wednesday, January 30, 2008
Today will be an important day in determining exactly where mortgage rates are going short term. At 2:15 p.m. The Federal Reserve is expected to cut rates further. A 1/2 point cut is widely expected, but not a lock. Anything short of 1/2 point would likely rock the stock market (short term), and even if the market gets what it wants, things could get rocky if there is even a hint or innuendo that the fed would pause on it's course. I'll be back later with analysis on the cut and the housing market and economy in general.
Posted by Andrew Fine at 8:38 AM