The Federal Prime Prime Rate has dropped again. The common phone call received this week is, "What does this mean to me? Will I get a lower interest rate for my loan in process?" I explain how the prime rate effects credit cards and home equity lines of credit vs. first mortgage interest rates that are driven by mortgage backed securities. What are mortgage backed securities? Tune in to this episode to learn more and to understand how we determine the interest rate that you receive.

How do you get through to Mom? Email is a fantastic way to get through to the Mortgage Mom, debbie@mortgagemomradio.com. Text messages and phone calls are great too! Do you know how to contact us? Text the word "MOM" to 474747 or give us a call 844-935-3634!

Download our Phone App loaded with every mortgage tool that you could need, and last but not least, watch our Homebuyer Workshop Series on YouTube!

Debbie Marcoux is Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, CA-DBO237926, AZ-0941504, TN 184373, TX