You may have heard that the Federal Reserve raised the federal funds rate by .75% on Wednesday. This rate controls how expensive it is for banks to borrow and lend from each other – which influences how much it costs for most consumers to borrow money, too. What does this news mean for mortgage rates […]
What the ‘new normal’ means for buyers
August 5, 2022. What the market’s ‘new normal’ means for buyers. Mortgage rates dipped slightly even after the Fed raised interest rates again last week – further illustrating that the market is driven by a range of macroeconomic factors (and not solely by inflation).
Shrinking average mortgage indicates opportunity, but not falling prices
July 8, 2022. Rates are volatile this week, heading up mid-week after dropping for two weeks in a row on the heels of some positive inflation data.
How do the Fed’s Interest Rate Changes Affect Mortgage Rates?
At the end of September, the Fed chose to raise the target Federal Funds Rate. Another rate increase is expected before the end of the year. And chances are good that we can expect additional rate increases in 2019. That’s important news, though not many people understand exactly what a rate increase means or how […]