The Fed’s rate cut decision means benefits for borrowers, especially those with adjustable-rate mortgages, and for homebuyers who are looking to get into the market with their now-increased buying power. Don’t let this opportunity pass you by!
What the Fed’s Rate Cut Means for Your Buyers
“Many borrowers will benefit, especially those with adjustable-rate mortgages and commercial real estate loans,” Yun says. […] Still, lower borrowing costs are helping buyers manage rising home prices. For example, buyers who spend $1,500 on monthly mortgage payments can afford to purchase a $402,500 home this year compared to $367,500 last year, when mortgage rates averaged 4.57%, according to realtor.com®.