Hello Everyone,

Here’s a mid week update.  The Feds just lowered the discount rate by 75 basis points to 4%.  Not only has this been the largest single cut since 1982 but it was done prior to next weeks meeting.  Keep in mind this does not mean mortgage rates just went down by .75%.  The discount rate cut will however be reflected in your credit cards and home equity lines. 

But speaking of mortgage rates, the 30-year fixed has continued its two-year low, now at 5.25%!! Michael, Geno, and I are standing by, ready to lock in rates, save money, and blow minds. 

P.S.  We are a head of the curve.  Currently most banks are still posting higher rates.

Contributed by;

Marcus A. Downs
Mortgage Consultant
Integrity Associates
mdowns@minnmortgage.com

“Don’t wait in line; let me wait on you!”