Make Offer
How to bid from home, but not be locked in interest rates before the Fed meeting?
I (among many others) foresee a rate cut at the next Federal Reserve meeting in two weeks. I am interested in a house and want to make an offer, but I doubt it because not want to be blocked before a rate cut for obvious reasons. Could I put a statement in the addendum to the contract of the buildings, "the seller will accept pre-approved buyer's offer, but not required financial arrangements until September 20.2007. "? How long after a rate cut is needed for lenders to reduce their tariffs? opinion?
The rate cut is only for short term mortgages long term, will have little noticeable effect. They rely more on their credit history and how much you can put a reserve of food.
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