How Fed's Decision Dropped Interest Rates


The Federal Reserve's decision on Wednesday to continue its massive bond-buying efforts sent interest rates down by more than a quarter percent for 30 year fixed mortgages. It was one of the biggest one-day drops in memory.

"We've seen crazier days than today, but that kind of improvement is a good day," said a local area mortgage broker.

Rates had risen from historic lows below 3.5% in May to more than 4.5% last week.

Posted by Kevin Aizenshtat of Gulf Coast International Properties. Kevin can be reached by phone at 239-777-1451 or by email at

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