THE FED’S 9/18/2024 RATE CUT

THE FED’S 9/18/2024 RATE CUT

On September 18, 2024, the Federal Reserve lowered its federal funds rate by 0.5%, opening a new chapter in residential real estate. After aggressive rate hikes in 2022 and 2023 to combat inflation, this is the first rate cut in four years.

Mortgage rates have started to follow suit, with the daily average 30-year mortgage rate now just above 6%, and expected to continue falling.

What does this mean for you?

  • Lower mortgage rates generally make home buying more affordable.
  • Falling rates can also boost stock markets, so if you hold equities, this might be a great time to invest in real estate with a stronger financial footing.

To put it in perspective, since last fall:

  • Average monthly payments on a $500,000 home have dropped by $670.
  • On a $750,000 home, payments are down by $820.
  • On a $1 million home, payments have decreased by $1,010.

If you’re thinking about buying or refinancing, now is the time to act. Reach out to me anytime—I’m here to help you seize the opportunity this rate cut presents!

Amie Pisano
📧 Email: [email protected]
📞 Phone: 914-715-2632


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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