THE FED’S 9/18/2024 RATE CUT

THE FED’S 9/18/2024 RATE CUT

On Wednesday September 18, 2024, the Federal Reserve lowered its federal funds rate by 0.5%, marking the beginning of a new chapter in residential real estate. 

To combat inflation, the Fed raised rates aggressively in 2022 and 2023.  It had been four years since we’ve seen a rate cut.  With the Fed rate cut already priced in, the daily average 30-year mortgage rate has been steadily decreasing already and is currently running a little above 6%.  It is expected to continue creeping down.

A lowering rate environment is generally good for stocks.  If you have equities, it’s a good time to make a new investment in a property with a stronger stock portfolio.

How can you take advantage of falling mortgage rates?  Here are some points of reference:

The average payment on a $500k home has dropped by $670/month since last fall.

The average payment on a $750k home has dropped by $820/month since last fall.

The average payment on a $1m home has dropped by $1,010/month since last fall.

Reach out today so I can help you seize your opportunity.

THE FED’S 9/18/2024 RATE CUT
THE FED’S 9/18/2024 RATE CUT
THE FED’S 9/18/2024 RATE CUT

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Whether you're looking for a new home or thinking about selling your current one, reach out today. I am dedicated to guiding you every step of the way to help you realize your real estate goals. Let me put my expertise to work for you.

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