Helping Washington State homeowners learn more about their mortgage options.
This week, I address how mortgage rates reacted to the Fed’s 50 basis point drop to the Fed funds rate and what may impact rates this week. Fannie Mae has an optimistic forecast for mortgage rates and we have 2025 “temporary” conforming loan limits available!
Check out my latest video for more info!
This is one of the most highly anticipated “fed days” that I can recall with the expectation that the Fed will lower the funds rate for the first time in four years. The question is, how much will the fed reduce the funds rate? Odds are currently at a 50-basis point drop, which is what the markets are betting on. [Read more…]
It’s a big week with the FOMC’s highly anticipated meeting wrapping up on Wednesday when we will learn if they’re going to cut the funds rate by 25 or 50 basis points. Watch my weekly update to learn more!
The Fed’s move tomorrow does not directly change mortgage interest rates; however, it does influence mortgage rates as rates are based on mortgage-backed securities (bonds) and are traded similar as stocks.
Changes to the Fed’s funds rate does impact the rates on home equity lines of credit, credit cards and other debts where the interest rate is based on the Prime Rate as the prime rate follows the Fed’s funds rate.
Mortgage rates have been improving and I am already helping people restructure their mortgages and eliminate high-interest rate debts. If you would like to see possible scenarios based on current rates, I’m happy to share this with you with no obligation.
Mortgage rates continue to trend lower! Check out what may impact mortgage interest rates this week on my latest video.
This week is JOBS week and we’ll see how it plays out for mortgage rates.
If you would like to see mortgage rates for your personal scenario, click here!
We are having a “staycation” and are not traveling somewhere this weekend. I’ll probably spend some time on a pickleball court, fiddle in the garden and will definitely be grilling something yummy this weekend.
What are your plans?
If you are shopping for a home need help with getting preapproved for a mortgage or are considering a refinance with lower mortgage rates, I am happy to help you (this weekend and every day)!
Have a Happy Labor Day weekend!
PS: Since Monday is a holiday and markets are closed, my weekly Mortgage Market Update will be published on Tuesday. 🤩
Buying a home for your child is a major financial and emotional decision. It’s a generous gesture that can offer security, stability and help create wealth, but it’s essential to carefully weigh the pros and cons before making this commitment. Here are some important factors to consider: [Read more…]
Mortgage rates continue to trend lower! Will this trend continue? Check out my latest video to learn more.
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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