Cash News For several months, interest rates on 15-year mortgage loans were between 6% and 6.5%. But things started to shift in August — rates have dropped by 72 basis over the last month and a half as economists have anticipated the Federal Reserve cutting the federal funds rate at its Sept. 18 meeting. The […]
Cash News All the information about mortgage interest rates and home prices may be buzzing around your head, but those are not the only considerations to help you answer the important question: When should I buy a house? Real estate market conditions matter, but so do your life stage and personal finances. Buying a home […]
Cash News Refinancing your mortgage is often a smart move. It can reduce your interest rate, lower your monthly payment, extend your loan term, or even give you access to much-needed cash in a pinch. Now that the Federal Reserve has cut the federal funds rate for the first time in four years, it could […]
Cash News If you’re shopping for your first home, you’re probably aware that your financial situation will impact how much you can borrow with a mortgage loan. But did you know that the type of mortgage you select will also help determine your maximum loan amount? Many hopeful home buyers want to get a conforming […]
Cash News At one level, you could consider the Federal Reserve as a bank to banks. It holds bank deposits, lends money to financial institutions, and facilitates the process for banks to borrow funds from each other. However, the Federal Reserve is much more than that. The Federal Reserve ensures the smooth operation of the […]
Cash News The Fed lowered the federal funds rate by 0.50% at the most recent Federal Reserve meeting on September 18. The federal funds rate. The Fed. The FOMC. All these terms we hear in the news that somehow deal with interest rates. What does it all mean? Here’s what you need to know about […]
Cash News After two and a half years of slogging through higher interest rates in an effort to throttle back inflation, the cycle is reversing. The Federal Reserve lowered its key interest rate by 0.50% at its meeting on Sept. 18. However, the federal funds rate is not the only driver of mortgage rates. Will […]
Cash News For the most part, fixed mortgage rates have decreased since yesterday, and adjustable rates have increased. Fixed rates have fallen significantly since the beginning of August. According to Zillow data, the average 30-year fixed rate is down 55 basis points since August 1, and the 15-year fixed rate has dropped by 54 basis […]
Cash News Mortgage rates should continue falling this autumn and into 2025 given However, waiting for mortgage rates to fall significantly before purchasing a home may not be an option for you. Buying a house when interest rates are currently where they are requires an understanding of the and for your finances to be running […]
Cash News This is the economic U-turn we’ve been waiting for. The Federal Reserve announced a massive half-point cut in short-term interest rates on Wednesday. It’s been a long time coming. After inflation peaked at 9.1% in June 2022, the Fed worked to tame consumer prices with 11 interest rate hikes over the ensuing months. […]