Mortgage rates often dance to the Federal Reserve's tune, and today’s news of the Fed pausing interest rate hikes could mean good things for anyone eyeing a home purchase or considering refinancing.
Mortgage Rates Might Fall:
Whenever the Fed takes a breather on hiking rates, mortgage rates usually follow suit. After the last two pauses, mortgage rates did drop. And there’s a chance they might continue to do so. So, if you’re planning to buy, this could be an advantageous moment to keep an eye on rates.
A Hint of Future Cuts:
The big news is that the Fed chair hinted at potential rate cuts in 2024. This could mean even more favorable rates down the road. Imagine interest rates dropping across various types of loans, potentially making it more affordable for many to buy a home or refinance.
Possible Relief for Homeowners:
For those who recently bought homes amidst higher rates, there’s hope. As rates decrease, refinancing could become more appealing. It might involve some expenses, sure, but the chance to shrink your monthly payment could outweigh those costs.
The Fed's decision today sets the stage for potential drops in mortgage rates and hints at further cuts down the line. If you’ve been holding off due to high rates, this could be your window to hop back into the market or consider refinancing for better terms.
The Takeaway
The Fed's pause in hiking interest rates could signal a positive shift in the mortgage market. It’s possible that rates might continue to decrease, potentially making homeownership or refinancing more feasible for many. So, if you’ve been waiting for the right time, this might just be it.
Company NMLS: 1929983
Individual NMLS: 194398
www.nmlsconsumeraccess.org
Regulated by the Colorado Division of Real Estate.
1050 Tamarac Parkway
West Wing Suite
Woodland Park, CO 80863
Phone: (719) 205-0776
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Town & Country residential lending strives to ensure that its services are accessible to people with disabilities. Town & Country residential lending has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
Town & Country residential lending makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server. The software allows TnCLending.com to improve its compliance with the Web Content Accessibility Guidelines (WCAG 2.1).
Town & Country residential lending accessibility menu can be enabled by clicking the accessibility menu icon that appears on the corner on the page. After triggering the accessibility menu, please wait a moment for the accessibility menu to load in its entirety.
Town & Country residential lending continues its efforts to constantly improve the accessibility of its site and services in the belief that it is our collective moral obligation to allow seamless, accessible and unhindered use also for those of us with disabilities.
Despite our efforts to make all pages and content on Town & Country residential lending website fully accessible, some content may not have yet been fully adapted to the strictest accessibility standards. This may be a result of not having found or identified the most appropriate technological solution.
If you are experiencing difficulty with any content on Town & Country residential lending website or require assistance with any part of our site, please contact us during normal business hours as detailed below and we will be happy to assist.
If you wish to report an accessibility issue, have any questions or need assistance, please contact us by sending an email to: Dave@tnclending.com