Quote:
Originally Posted by oklavol  The Fed chairman sets the rate money is loaned to banks, when the rate is lowered, the banks then in turn lower the rate they loan money to consumers.
So it becomes cheaper to buy a house because your house payment becomes lower because the interest rate on your home loan is lower. |
That's just wrong. The Fed rate and Mortgage rates move in opposite directions all the time. The two numbers don't really correlate.