Fed Cuts Rates, Suggesting More Cuts to Come
The Federal Reserve cut the benchmark interest rate .25% in their September meeting, caught between balancing the economy’s nagging inflation and stagnant job growth. This is the first cut since 2024, putting the Fed Funds Rate at new range of 4% to 4.25%. The Fed has penciled in two more rate cuts this year, and a third cut in 2026.
If you have variable rates on your credit cards, you can anticipate paying a lower interest rate on your next statement. Mortgage loans with variable rates, such as HELOCs and ARMs, may also see a lower interest rate now.
While the Fed rate doesn’t have a direct effect on fixed-rate mortgages, mortgage rates are heading in the right direction. Potential homebuyers and current home owners interested in refinancing have stepped up, as we are seeing 30-year fixed-rate loans at an 11-month low. 
If you’re thinking about buying a home, refinancing, or taking advantage of built-up equity, give me a call to get in on the action! We’re here to help you make the best decision by providing comprehensive loan comparisons and professional guidance.