Federal Reserve Cuts Benchmark Rate in Wake of COVID 19

The Federal Reserve, in an attempt to shore up the economy in the wake of the ongoing COVID 19 outbreak, cut the benchmark lending rate by 50 basis points in an emergency session earlier today.   As a result, already extremely low home mortgage interest rates may decline even more in the coming weeks. Thisi s the first emergency Federal Reserve rate cut of this type since the 2008 financial crisis.  While this is good news for home buyers and those looking to refinance a home mortgage loan, interest rates on CDs and savings accounts are expected to drop as well.

Buying a new home or ready to refinance a higher rate home mortgage loan in the Atlanta, Gerorgia area? Get your home mortgage loan application in now so you can lock in a low home mortgage interest rate! Contact Peachtree Mortgage Services, Inc. at 770.481.0052 or peachmtg@bellsouth.net.