mortgage rates surge today after the feds cut the fed funding rates a quarter percent

uh like i've been telling you guys on several videos that the fed fund rates does not mean if

they cut it it does not mean mortgage rates are going to drop today was another prime example of that

welcome back to the channel

matt garland and mLS number 5 8700 better known as m g the mortgage guy we are alive we are

blessed thank god for another day so let's talk about it man my phone has been buzzing all day

since the feds cut rates another quarter percent today.

I keep telling you guys over and over and over Fed fund rates being cut doesn't really mean too much to the mortgage rates.

In fact, it can make rates go down, go up like they did today.

And one of the main reasons why that happened today was because Fed Chair Powell said during his press conference that December is not a foregone conclusion that they are going to cut the interest rates.

He doesn't know what's going to happen.

And the market didn't like that, especially the bond market.

And this is why we see mortgage rates went up by the close of business today, about a quarter percent higher than what it closed yesterday.

So again, guys, you've got to be in position to lock in the rate. You got to be in position to

lock in the rate. So those of you who are out here being pre-approved and all this other good stuff,

it's good to pay attention to what

rates are but unless you got a contract or you are refinancing you cannot lock in anyway right

another thing i always tell you guys and i hope you guys are paying attention to me don't play in

this market if you are in position to me. Don't play in this market.

If you are in position to close on a deal and lock in, don't play the market.

Lock your rate.

Lock, lock, lock, lock.

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