I’m on the verge of getting a mortgage and was curious how the rate cut would affect mortgage rates. Is it a direct relationship, like if my rate is 6% today and tomorrow they cut a half point, will tomorrow mortgage rate be 5.5%?
I’m looking to do a 30 year fixed with about 50% down and excellent credit, any idea what kind of rate I should be looking to get?
Any insight you can offer beofre I take the plunge would be great. Thanks.