I'm Didier at Didier mortgage we just
had a Fed cut of a quarter of a point
what does it mean doesn't mean the rates
is drop automatically
the answer's no see the markets been
anticipating a rate drop now for several
months so it has been easy the ten-year
Treasuries been easing the rates have
been coming down but when the feds
announced a quarter of a pallet drop
they got a little upset with Wall Street
because Wall Street wanted a half a
point they wanted more aggressive cuts
and the Fed said not you got a quarter
and I don't see anything happening
anymore for a while so that wasn't what
Wall Street wanted so when you saw that
that happened rates actually popped a
little bit but you have to remember the
preceding months the rates were coming
down so they just wanted to see more
aggressiveness there's a little bit of
instability because they don't know if
more cutter in store for the remainder
of the year so it kind of asked if the
unemployment is so low and the economy
is doing so incredibly well why are the
feds cut why does Wall Street 1/2 a
point is because of tariffs everything
going on trying to keep things steaming
along these are just questions but you
know if you're gonna refinance and I'm
getting lots of calls and emails on that
you have to really drop almost 2 percent
in order to make it worthwhile because
of the closing cost yes the closing
costs are included in your loan amount
but I get that little trigger of about
18 months one and a half years to
recuperate your closing cost I'm all for
it but you know I've got people calling
me up that the rates have dropped a
quarter or three-eighths of percent of
like we got refinance now you're gonna
drop by $20 and you can spend $3,600
that doesn't make sense so really you
have to wait for that opportunity when
you have a significant rate drop when
you see a rate has dropped down by two
percent is that out of the ballpark I
don't think so is it gonna happen today
no I think there's opportunities next
year so really you have to make it worth
the while to refinance in order to be
cost effective and again you had to hear
about the feds
you got the feds wanting a quarter and
they're not seeing anything happening it
lately or in the near future
Wall Street wanting a half and more
aggressive hmm we'll have to see what
happens but
the rates great absolutely a great
opportunity to buy and maybe makes sense
on refinancing if you've dropped enough
did-ent da mortgage thanks for joining
me
