Impact on mortgage rates Federal Reserve cuts rates to zero

[Ron Singh]

With federal cutting the rates to zero, what to expect on high balance mortgages (loan amount above 500k since its pretty common in bay area).

what interest rate to expect to refinance and new home mortgages ?

(consider credit score above 820)

[Zack Karp]

NO ONE is offering 30 year fixed rates at 3.0% today.  Old news from a week ago.  The Fed cut today does not automatically lower mortgage rates, if anything it stopped the bleeding of this past week.  We will have to see how this plays out in the markets starting tomorrow.