What are the Benefits Of The Fed Rate Cut For The Housing Market And Borrowers

Описание: 1. Benefits Of The Fed Rate Cut For The Housing Market And Borrowers

Federal Reserve Board Chairman Jerome Powell announced on Wednesday, July 31st, 2019 the Feds will be cutting interest rates by 0.25 basis points.

The news of the Fed Rate Cut was expected for several weeks
Benefits Of The Fed Rate Cut normally is good for consumers in general
Many consumers wonder the Benefits Of The Fed Rate Cut for the housing market
What are the Benefits Of The Fed Rate Cut for home buyers and homeowners thinking of refinancing their mortgage?
The move yesterday by the Federal Reserve Board marked the first time the Feds cut interest rates since the 2008 Great Recession and Housing Collapse

2. The Bottom Line And What This Means For Homebuyers And Homeowners

Mortgage rates today are at a 3 year low. Back in 2013, rates on 30 year fixed rate mortgages were as low as 3.25%. Borrowers who closed on their mortgages in 2018 got rates at an all-time high since the 2008 Great Recession. The Federal Reserve Board increased rates four times in 2018. Many borrowers closed their home loans at over 5%. Today’s mortgage rates are at 3.75% for prime borrowers without any Loan Level Pricing Adjustments (LLPA). Most borrowers who closed on their home loans in 2018 should get a net tangible benefit by refinancing their home loans today. For more information about this article and/or other mortgage-related topics, please contact us at Gustan Cho Associates at 262-716-8151 or text us for faster response. Or email us at [email protected]. The Team at Gustan Cho Associates Mortgage Group is available 7 days a week, evenings, weekends, and holidays.

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