New Fed Rate and VA Update
By David Haley, Mortgage Made Easy
(Fairway Independent Mortgage Corporation)
New Fed Fund Rate and other News! October 30th, 2008 2:48 PM Wow! The Federal Reserve has lowered the rate down to 1%. We have not seen this low of a rate since the technology bubble in the beginning of the the decade. There is talk that they might again lower in the ending of the year. This will help anyone that has a home equity loan on their home(s). With this move the Asian Stock Markets have rallied quite a bit from this downward move with our lowering of the Fed Rate. We just received a Bulletin in regards to VA Loans... any person who is eligible for a VA Loan and wants to refinance to pull cashout can now go to 100% of the appraised value. Where before you could only have a max of 36,000 cashout. This will help alot of people out there that needed this help. So depending on whic...
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