Stable Rates

Great news - the Federal Reserve just lowered rates once again - so now the Fed Funds rate is 2% and more importantly banks have lowered their prime rates to 5% - for those of you with Home Equity Lines of Credit - that's great news.

All of the Fed action should lead to a period of stable rates - so if you've been on the sidelines hoping rates would move lower - now is the time to act - we do not foresee rates going lower - but we do anticipate that rates will be stable over the next few months.

We are now in our new offices in Stafford, VA - we love them - and each Loan Officer now has their own office - at the old office - they were in cubicles.

Thanks for allowing us to serve your mortgage needs - If you need a mortgage call Covenant Mortgage at 888-780-8781.

Talk at you soon.

Rich