10/12/2024
Hey everyone! It's been a minute since I've posted. Let's take a moment though to discuss rates.
When the fed cuts rates by .25, .5 - whatever - it DOES NOT LOWER FIXED RATES BY THAT AMOUNT. The fed is cutting prime. There is a lot of media hype about calling your lender (me) to lower your rate or lock you in. In reality - it often pushes fixed rates up.
Rates are volatile - regardless of what anyone tells you . In the last two weeks alone - the fixed rates have gone up by over .5%! Will they come back down?? Economists agree they should. If you want to prepare to buy or refinance - call me to discuss options. Happy to chat - free of charge without pulling credit. I'm an educational lender and prefer you to understand what you are doing and make an educated decision.
Have a great Saturday!