To: CygnusXI; RockinRight
Does this (if they cut rates) translate into lower re-fi rates for mortgages?Oddly, no, not directly. Most ARMS are calculated based on an index called LIBOR (and published in the WSJ). RnR will know.
26 posted on
11/28/2007 12:37:37 PM PST by
Petronski
(Reject the liberal troika: romney, giuliani, mccain)
To: Petronski
Fixed rates are based on the 10 year bond as well.
Generally, the LIBOR follows the Prime rate but there is no direct correlation.
36 posted on
11/28/2007 12:47:20 PM PST by
RockinRight
(Just because you're pro-life and talk about God a lot doesn't mean you're a conservative.)
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