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For those who’d been monitoring Costa Mesa mortgage rates ahead of last week’s Federal Reserve interest rate cut, the news that followed was confusing. The Fed’s decision to lower their overnight lending rate for the first time since the Great Recession commanded first page headlines—but the details that followed provided little clarity.
For homeowners pondering selling or mortgagees thinking of refinancing or applying for a line of credit, the question was whether now was the optimal time to take advantage of the bargain interest rate environment…or…?
First were reports on the fallout from Wednesday’s ¼ point drop in the Fed’s benchmark overnight borrowing rate. Wall Streeters didn’t seem to like it—not because it wasn’t good for borrowers of
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