Are you closely monitoring current mortgage rates and wondering how potential Federal Reserve rate cuts might impact your financial future? In this video, we dive deep into mortgage rates, currently averaging around 6.52% for a 30-year fixed mortgage and 5.85% for a 15-year fixed. But these numbers are more than just statistics—they’re crucial in determining your monthly mortgage payments and overall financial planning.
Join us as we explore:
The Influence of Mortgage Rates: Understand how your personal financial situation, especially your credit score, impacts the rates you’re eligible for.
The Economy’s Role: Discover how mortgage rates fluctuate with economic conditions and what a predicted drop to around 5% means for you.
The Federal Reserve’s Power: Learn about the federal funds rate, how it influences mortgage rates, and the implications of rumored Fed rate cuts.
Impacts on the Housing Market: Analyze how potential rate cuts could affect housing affordability, market supply and demand, and overall economic growth.
With expert predictions indicating a shift in mortgage rates, now is the time to arm yourself with knowledge. Whether you’re a homeowner looking to refinance or a prospective buyer on the hunt for your dream home, understanding these dynamics is key to navigating the housing market confidently.
Don’t miss our discussion on the complex dance between the federal funds rate and mortgage rates, and how this interplay could spell changes for the housing market and your personal financial decisions.
For the complete article go to
https://www.cbsnews.com/news/how-far-will-mortgage-rates-fall-when-fed-cuts-rates-what-experts-say/
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Timestamps:
0:00 Introduction
0:45 The Current State of Mortgage Rates
2:00 How Personal Finances Affect Mortgage Rates
3:15 The Economic Impact on Mortgage Rates
4:30 The Federal Reserve’s Influence
5:45 Predicted Changes and Their Implications
7:00 Expert Predictions on Mortgage Rates
8:15 Actionable Advice for Homeowners and Buyers
9:30 Conclusion
#MortgageRates #FederalReserve #HousingMarket #FinancialPlanning🏡 Carol “Pro” Murray is a Realtor® in Macomb County, Michigan, with Keller Williams Lakeside. The term “Pro” came from Provenzano, and it just stuck.😜 I’m a wife, mother of three, and grandma, and fondly go by the name Gee Gee to my littles. I can’t start my day without my coffee ☕️ nor end it without connecting to my family.❤️
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Carol “Pro” Murray
Associate Broker, ABR, SRES, GRI
Keller Williams Lakeside
45609 Village Blvd.
Shelby Township, MI 48315
586-532-0500
