Thursday, May 18, 2006

RE: Special News Alert About The May 10th Federal Reserve Meeting!

Well, I guess in response I believe it to be important for all consumers who
have debt to understand that the fed has made a recent history (16
consecutive increases to prime rate) of raising rates. If you are a
consumer who sees an almost 40% chance that that their minimum payment on
revolving debt, Home Equity Lines of Credit, or other debt tied to prime
rate will continue to increase then it is important to search for
alternative methods for fixing the payments and possibly saving money. If
you are a consumer who is comfortable with a 38% chance of pmts increasing
and in turn reducing the amount of expendable monthly cash flow then this
message won't mean anything to you.

I'd love to see your blog there a link on

David Savio
First Rate Financial LLC

-----Original Message-----
From: []
Sent: Thursday, May 18, 2006 12:10 PM
Cc: Seattle houses
Subject: Re: Special News Alert About The May 10th Federal Reserve Meeting!

Just curious Dave, how does a 38% chance translate in to a percentage of
confidence? I would infer based on that data, and what you wrote that, 62%
chance that they are done raising rates. I copied my Seattle Houses Blog on
this email, as I think it is important to get the truth out. If you have
time please read my blog's past posts, and add comments if you have valuable
information for consumers.

Vipin Singh
Sent from my BlackBerry wireless handheld.

-----Original Message-----
From: "David Savio" <>
Date: Thu, 18 May 2006 10:45:34
To:"David Savio" <>
Subject: Special News Alert About The May 10th Federal Reserve Meeting!








David Savio
Senior Mortgage Consultant
First Rate Financial LLC
Phone: (425) 289-4609
Fax: (425) 869-3810
daves: <> <>












Special News Alert About The May 10th Federal Reserve Meeting!

Policy makers at the Federal Reserve, including Chairman Ben Bernanke,
elected to increase interest rates for the sixteenth straight meeting of the
Federal Open Market Committee.

This brings the Prime Interest Rate, which banks and lending institutions
use as a benchmark for setting many interest rates, up to 8.00%.

According to, current interest-rate futures indicate a 38%
chance that the Fed is not done yet and will increase rates again in June.

This means interest rates and many monthly payments are going to increase!

Many Adjustable Rate Mortgages, which are better known as ARMs, are tied to
indexes that are very sensitive to short term interest rate hikes. These
mortgages could have interest rates that now exceed 7.50% and could adjust
to even higher rates later this year.

Home Equity Lines of Credit now carry interest rates that may exceed 10.00%.
Credit card interest rates, which are often tied to the Prime Rate, are at
recent historic highs.

Interest Rates for Fixed Rate Mortgages are still very attractive!

However, pressure is continuing to build. The Federal Reserve intends to
increase long term rates, which include fixed mortgage interest rates. Many
experts like Bill Dallas, Chairman and CEO of Ownit Mortgage, project that
30-Year Fixed Interest Rates will climb, on average, to 7.00% before year

If you're considering purchasing a home or investment property, this is the
time to do so. Waiting will only lead to higher monthly payments for the
same piece of real estate.

Now is also an excellent time to refinance your mortgage! Consolidate higher
interest rate loans and lines of credit into an affordable fixed rate loan,
complete with lower monthly mortgage payments.

Call me today and I will prepare a FREE Analysis to see if a new mortgage
program could benefit you.



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