Fed DROPS Rate: Why are Mortgage Rates RISING?
Автор: Move to Chattanooga by Robert C. Baker
Загружено: 2024-12-19
Просмотров: 105
Hey there I just wanted to hop on and talk briefly about the direction of the 30-year mortgage interest rate given, the most recent reduction of the US Fed funds rate. The 30 year mortgage rate is at 7.14% percent today, per Mortgage News Daily.
You may know that the US federal reserve reduced the fed funds rate, that is the intra-bank overnight borrowing rate, 25 basis points or a quarter of a percent, today, December 19. This continues a trend over gradually lowering the rate begun in September.
Now that’s good news for people who hold helocs, home equity lines of credit, and other forms of credit that are based on the Fed funds rate. Based on what we’re learning now, it’s possible that the Fed will reduce the rate two more times next year, so be on the lookout for that.
#movetochattanooga #interestrates #chattanooga
Robert C. Baker, GRI
Zach Taylor Chattanooga
Cell: (423) 820-3663
Office: (855) 261-2233
518 Georgia Ave, Suite 101, Chattanooga, TN 37403
DRE#: TN 345082, GA 383442
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