GMAC Mortgage Rate Sheet

'Fed Rate Cut Right Move, Analysts Say – 1/31/08'

Thursday, January 31, 2008 — The Federal Reserve has cut the federal-funds rate by 1.25 percentage points since Jan. 22, approving a 0.5-percent reduction at its meeting on Jan. 30. Analysts say two rate cuts within eight days of each other is unprecedented, but they underscore the resulting benefits to consumers and businesses. Freddie Mac says mortgage rates have slipped to about 5.5 percent since the start of January, and the Mortgage Bankers Association reports a year-over-year surge in mortgage applications of 71 percent last week. Adjustable mortgage rates also have fallen. According to Bankrate.com senior financial analyst Greg McBride, "Resets will be much more manageable in 2008. That could be the difference to holding onto your house."

 

 

Matt Dolan

Loan Officer

1990 Main Street

Brewster, MA 02631

P.O. Box 2000

 

508-737-3509

Electronic Fax- 866-363-7255

matthew.dolan@gmacm.com

http://gmacm.net/matthew_dolan

 

 

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Lee Wareham - REALTOR®, TRC, e-PRO
The Tucker Group
Kinlin Grover GMAC Real Estate
193 Cranberry Highway - Route 6A
Orleans, MA 02653
800-275-9210 x141, 774-313-6091 Mobile
508-255-1489 Fax
mailto:lwareham@kinlingrover.com
http://LeeWareham.com

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