In a recent news release the Federal Reserve cut the prime rate again.  You may hear that they cut the rate to 0 to .25% THIS IS NOT THE PRIME RATE!  This mean the rate at which they are offering money out has been cut significantly which we all hope will reflect in interest rates as early as later this week.  We did see some price changes for the better this afternoon late as FHA dropped back to 5% and Conventional dropped to 4.75%. 
 
Be on the lookout for a volatile market again.  I look for rates to jump around a bit through the holidays and hopefully stabilize in the mid 4's until things lossen up a bit. 
 
Have a great week!  I will keep you posted as I know more!


Avery Greenlee
Carolina One Mortgage
www.loansbyavery.com
Office(843) 821-7912
Fax (888) 796-7579