Fed cuts rate again

3:05 PM / Posted by Supermario /

interest-rate-rise-bite

I recently sold my house in VB and I've got three days until the closing date. Then I'll be free to look for a new house but I'm inclined to wait on the new legislation that the Treasury is crafting. If the Obama camp gets with it then I might qualify for a 30-year fixed rate as low as 4.5. That's more money left at the end of the month! Always a good thing.

So this probably won't affect me in the short term, but it's good to keep your eyes on it. I know current homeowners won't care since you don't get to refinance an existing mortgage but there are a lot of guys like myself who are on the sidelines waiting for the right opportunity to jump back into the market.

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