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This series was created so you can be informed and ready when the time comes for one of life’s biggest investments, in just one minute a week!

David Sullivan’s Mortgage Minute: Market Momentum Builds -

David Sullivan's Mortgage Minute Stay up-to-date with the "Mortgage Minute" – your quick, weekly update on mortgage trends to help you make confident choices when it matters most

** How the Fed’s Recent Rate Cut Affects Mortgage Rates**

On September 18, 2024, the Federal Reserve lowered the federal funds rate by 50 basis points, the first positive news for interest rates in over two years. This cut impacts short-term borrowing costs like credit cards and car loans but indirectly affects mortgage rates.

Historically, rate cuts can increase inflation, leading to higher mortgage rates, but the Fed’s current outlook suggests inflation is under control.

The Fed’s projections signal additional rate cuts for 2025, which could push mortgage rates lower.

In summary, while future cuts may be smaller, mortgage rates are expected to trend downward, though not in a straight line.

Higher interest rates
= less home buyers
= more inventory
= lower interest rates
= refinance to a lower rate

The calendar still says winter, but spring is just around the corner. Lighten the load next month by getting a few things done now. Keeping up with repairs and routine maintenance adds value to your home.

High rates making you unhappy? This will make you smile: you can buy down your rate by up to 3% at the start of your loan to help you get into the home you love. DM me or call to learn more.

Wondering if you have enough money to buy a house? FHA loans often feature low down payments, lower closing costs and more affordable mortgage insurance. Let's talk and find out if an FHA loan would work for you!

Take credit for your outstanding credit score! Work with me on your next primary, secondary, or investment home and get the outstanding rate you deserve. DM for details.

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The warm weather of summer may be gone, but not your opportunity to buy that beach home you've always dreamed about. Call me today and let's talk about your second home mortgage options.