🏡 𝗛𝗼𝘄 𝗱𝗼𝗲𝘀 𝘆𝗲𝘀𝘁𝗲𝗿𝗱𝗮𝘆'𝘀 𝗙𝗲𝗱 𝗮𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗺𝗲𝗻𝘁 𝗮𝗳𝗳𝗲𝗰𝘁 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗿𝗮𝘁𝗲𝘀? 🤔
I'm glad you asked.
Yesterday the Fed announced that it would leave its policy rate - the fed funds rate - unchanged, and would begin tapering bond purchases this month and would likely continue doing so into early next year. So what does that all really mean, and what does it do to mortgage rates?
Rather than give you a full economics lesson in this post, let's just talk about the bottom line... the Fed's actions yesterday are likely to help mortgage rates remain relatively steady and possibly creep up a bit through the end of the year. It also means we are not likely to revisit the lowest rates we saw earlier in the year, although rates do remain near historic lows.
✅ 𝗦𝗼 𝗶𝗳 𝘆𝗼𝘂'𝗿𝗲 𝗼𝘂𝘁 𝘁𝗵𝗲𝗿𝗲 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝘁𝗼 𝗯𝘂𝘆 𝗮 𝗵𝗼𝗺𝗲, it's a good sign that rates will still be low when you find one, helping you afford more home for your money.
✅ 𝗔𝗻𝗱 𝗶𝗳 𝘆𝗼𝘂'𝗿𝗲 𝘁𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗼𝗳 𝗿𝗲𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗻𝗴, it means now is a great time for that conversation, before rates creep up further through the end of the year as expected.
👉 𝗥𝗲𝗺𝗲𝗺𝗯𝗲𝗿, 𝗶𝗳 𝘆𝗼𝘂'𝗱 𝗹𝗶𝗸𝗲 𝘁𝗼 𝘁𝗮𝗹𝗸 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝘆𝗼𝘂𝗿 𝘂𝗻𝗶𝗾𝘂𝗲 𝘀𝗶𝘁𝘂𝗮𝘁𝗶𝗼𝗻 𝗼𝗿 𝗶𝗳 𝘆𝗼𝘂 𝗵𝗮𝘃𝗲 𝗮𝗻𝘆 𝗺𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗼𝗿 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀, 𝗜'𝗺 𝗵𝗲𝗿𝗲 𝘁𝗼 𝗵𝗲𝗹𝗽. 𝗥𝗲𝗮𝗰𝗵 𝗼𝘂𝘁 𝗮𝗻𝘆𝘁𝗶𝗺𝗲!
#mortgages #mortgagerates #realestate #mortgageinterest #homebuyingtips #realestateadvice #refinance
