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.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 1660690
Individual NMLS: 1162957
www.nmlsconsumeraccess.org
This is not an offer to enter into an agreement. This is not a commitment to make a loan. Not all customers will qualify. Information, rates and programs are subject to change without prior notice. All products are subject to credit and property approval. All approvals are subject to underwriting guidelines. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. NEXA Mortgage, LLC is not affiliated with any government agencies .These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. Copyright © 2020 NEXA Mortgage, LLC NMLS#1660690. AZMB#0944059. 3100 West Ray Rd Ste 201 Chandler, AZ 85226,
602-344-9333. www.NEXAMortgage.com NEXA Mortgage, LLC is an Equal Housing Lender. All rights reserved
563 Deer Valley Dr
Hixson, TN 37343
Phone: (423) 664-7423
dkolbus@nexamortgage.com
Powered By LenderHomePage.com
NEXA Mortgage LLC. strives to ensure that its services are accessible to people with disabilities. NEXA Mortgage LLC. 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.
NEXA Mortgage LLC. makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server. The software allows callthatloanguy.com to improve its compliance with the Web Content Accessibility Guidelines (WCAG 2.1).
NEXA Mortgage LLC. 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.
NEXA Mortgage LLC. 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 NEXA Mortgage LLC. 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 NEXA Mortgage LLC. 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: dkolbus@nexamortgage.com