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When the Fed cuts interest rates, how long does it take to reflect in mortgage offers?

Published on August 26, 2010 By admin

I’m looking for mortgage rates online and want to build modular next year, now just looking for the best deal and wondering when today’s Fed actions will be reflected in the offers I find. Cuts in daily interest rates from the central bank to the commercial banks do not directly translate to mortgage rates if [...]

Why are fixed mortgage rates and adjustable rates different?

Published on May 3, 2009 By admin

I just saw that a 30 year fixed mortgage is 6.07% and a 5/1 ARM is 5.91%. What are the reasons why these rates differ by nearly .2%? The 30 year fixed will have the same interest rate (6.07%) for all thirty years of the mortgage. The 5/1 ARM will only have a fixed rate [...]