Financial markets widely expect the Fed to lower benchmark overnight rates by a quarter-percentage point to 2 percent, which would the lowest since December 2004, and offer a hint the rate cutting may be at an end. Interest rate futures prices implied a small probability the Fed could leave rates unchanged.
Product Rate APR
3/1ARM *5.250% *5.328%
5/1 ARM *5.375% *5.460%
15 Yr. Fix. *5.500% *5.578%
30 Yr. Fix. *5.875% *5.953%
*Rate is based on 20% down payment
*APR is based on $250,000 loan amount