The Federal Reserve’s historic rate cut this week could usher in a period of lower mortgage rates. We have all been waiting for this. But what does it really mean. History always tells a story.
As you can see, the actions of the Fed do not directly affect mortgage rates. They can, however, dictate the direction of mortgage rates based on the industry’s feeling of the economy’s stability.
Predicting the financial market’s next move has never been simple. Experts must consider a plethora of shifting economic variables, and even then, they don’t always hit the mark. Add in an extremely impactful unforeseen event such as the COVID-19 pandemic—which introduced a combination of work-from-home and ultralow interest rates—and forecasting interest rates is even trickier.
Check REX2020.com for more blog posts that are both informative and timely for today’s real estate market. Let tom know if you have been thinking about a move … it may be time to start planning.
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