Now that the 'Fed' lowered rates 3/4 of a point on Tuesday; how does that effect 30-year-f

Fixed mortgage rates are just that, fixed. So it will not change your rates. The only way to get around this would be to re-finance.

Now that the %26#039;Fed%26#039; lowered rates 3/4 of a point on Tuesday; how does that effect 30-year-fixed mortgage rates?

I don%26#039;t know and am wondering the same. Maybe it will start a trend to lower rates on things like mortgages.

But like Sparkles said, if you already have a mortgage, you%26#039;ll have to refinance to get the benefit of a lower rate.

Why did I get a thumbs down?

The trend may lower NEW fixed mortgages.

Now that the %26#039;Fed%26#039; lowered rates 3/4 of a point on Tuesday; how does that effect 30-year-fixed mortgage rates?

It doesn%26#039;t effect them because they are %26quot;fixed%26quot;.

Now that the %26#039;Fed%26#039; lowered rates 3/4 of a point on Tuesday; how does that effect 30-year-fixed mortgage rates?

Jimbo,

The direct effect on the mortgage market is not the same. The mortgage market closely mirrors the bond market, particularly the 10 year T-bond. This market has been moving in a sawtooth pattern for months, although gemerally trending down. If you are waiting for a purchase or refinance opportunity, it%26#039;s starting to look pretty good. I would urge you not to get greedy. If the time is right for your move, whatever it may be, the rates are pretty good and not likely to get a lot better. If you%26#039;re thinking your current mortgage will be affected by the Fed move - wrong-o.

Now that the %26#039;Fed%26#039; lowered rates 3/4 of a point on Tuesday; how does that effect 30-year-fixed mortgage rates?

The 30-year fixed rate mortgage market does not rely on the Fed%26#039;s borrowing rate, but is much more closely tied to long term Treasuries and bonds. Eventually, it will have an effect, but don%26#039;t expect anything immediate.