There is a lot of talk about the Federal Reserve’s anticipated interest rate cut and how it will affect mortgage rates. Surprisingly, the rate cut itself will do almost nothing to change mortgage rates directly. To understand why, consider this: mortgage rates have dropped by more than 1.5% since late 2023, even though the Fed didn’t cut rates during that time. This works the other way around, too. For example, in early 2022, mortgage rates jumped by 1.5% before the Fed increased its … [Read more...] about Where are Interest Rates Headed?
interest rates
Will History Repeat Itself with Mortgage Rates?
The following quote seems like the best way to start this month, on many levels. “Prepare for the unknown by studying how others in the past have coped with the unforeseeable and the unpredictable.” – George S. Patton I believe many aspiring homebuyers feel like the housing market is at war with their American Dream, so Patton’s quote could be appropriate. And yes, though we will dissect historic context and potential outcomes in this article, mortgage rates are truly unforeseeable and … [Read more...] about Will History Repeat Itself with Mortgage Rates?
