Don’t Wait to Purchase Your Dream Home
Mortgage rates have declined from the highs reached late last year. You may be wondering if you should wait for them to drop further before
Remember, the Fed Funds Rate is the overnight borrowing rate for banks and it is not the same as mortgage rates.
But you may be wondering: How does this move in the Fed Funds Rate affect mortgage rates?
Mortgage rates are primarily driven by inflation, which is at a 41-year high. When the Fed hikes the Fed Funds Rate, they are trying to slow the economy and curb inflation. If the Fed is successful in cooling inflation, mortgage rates should decline. History proves this during rate hike cycles for the past 50 years.
Reach out to us today, we’re here to help you navigate these uncertain times and find you the best home financing opportunities.
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