The Fed set mortgage rates downward this week, but now is not the time to wait-and-see where rates go next. A turnaround could happen just like .

The Fed re-affirmed its plan to hold the Fed Funds Rate near zero percent “for an extended period” today. Mortgage rates remain low and the Refi Boom continues.

Omitting adjectives can lead to misunderstandings and it happens nearly every time the Federal Open Market Committee meets. Today should be no different. If you're floating a mortgage rate, you'll want to know how to interpret the headlines the *right * way.

When you own a home, your fiscal responsibility to the lender goes deeper than just your monthly principal + interest payments. You've got taxes and insurance to manage, too. And, homeowners that let lenders collect and pay their taxes and insurance bills tend to get lower rates and/or lower fees.

Suddenly, the phrase "cleared to close" doesn't mean so much. Because of a new Fannie Mae policy, a mortgage lender's commitment to fund isn't final until it's final. Lenders have reason to revoke a person's mortgage approval all the way up until the point of funding. Scary, scary stuff.

Suddenly, the phrase "cleared to close" doesn't mean so much. Because of a new Fannie Mae policy, a mortgage lender's commitment to fund isn't final until it's final. Lenders have reason to revoke a person's mortgage approval all the way up until the point of funding. Scary, scary stuff.

It's a Refi Boom. The biggest one we've seen in a while. Homeowners are *finally* pulling the trigger on new mortgages, lowering their monthly payments by staggering dollar figures.

It's a Refi Boom. The biggest one we've seen in a while. Homeowners are *finally* pulling the trigger on new mortgages, lowering their monthly payments by staggering dollar figures.

It's a Refi Boom. The biggest one we've seen in a while. Homeowners are *finally* pulling the trigger on new mortgages, lowering their monthly payments by staggering dollar figures.

In the Mortgage World, when momentum stops, it's because there's a force pulling in the opposite direction. And momentum has stopped. Rates are no longer falling.