tardis_mom asked:


We would like to refinance our current mortgage and I was hopeful that the result of the Fed rate cut would be a drop in the mortgage rates. However, it seems like mortgage rates only dropped by about 1/4 % point (I was hoping to go down to about 5% on a 30 year fixed rate with no points with an excellent credit score). What determines whether mortgage rates fall and how much?

Mildred

acman07033 asked:


I recently got a quote for a 30 yr. fixed rate mortgage of 6.75% and was wondering if that was a good rate considering I have an excellent credit score. I simply thought it would have been lower, and did not know if it were negotiable.

Yolanda