Despite Fed cuts, mortgage interest rates creeping up
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fed cuts, interest rates, Mortgage Interest Rates March 17th, 2008South Floridians are inundating lenders and mortgage brokers with requests to lower their house payments, reacting to the Federal Reserve’s recent interest-rate cuts.
But that doesn’t necessarily mean you’ll get a cheaper deal on your mortgage. In many cases, brokers are telling consumers to hold off refinancing.
“We spend a lot of time telling people it’s not the right time,” said Gus Pasquale, co-founder of Element Funding, a residential lender in West Palm Beach.
Tags: fed cuts, interest rates, Mortgage Interest Rates
