Wednesday, not an hour after the Fed reduced it’s benchmark interest rate by a quarter point, to 4.5 percent, I received an e-mail saying;

Refinance your loan now, the Fed has lowered interest rates again,..

and goes on to mention the deduction that just happened.

The funniest thing about it is, that e-mail turned out to be the first notification I saw about the reduction. Yes, it was expected, but the actual amount of the reduction (hoped to be a half point by many on Wall Street) was up in the air. E-Loan must have had some reporter or correspondent on-site waiting for the actual word before someone else in their IT department pushed the button on the mass-mailing machine.

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It’s quite a thrill to see E-Loan trump some of the other news agencies. I got quite the chuckle out of it.