Real estate broker associate, coach, and mentor. Serving home sellers and buyers in the Greater Sacramento Region. Coaching and mentoring Realtors throughout the United States.
The Fed just cut interest rates! But will it really help you buy a home? The Federal Reserve just slashed interest rates by half a percent, but what does that mean for you? First off, mortgage rates might not drop much further. They’ve been pretty high since the pandemic, peaking at nearly 8% last year. Right now, they’re at around 6.2%. Expect them to drop a little more, but don’t get your hopes up too high. Experts think we’ll see rates closer to 5.5% by the end of 2025. Lower rates might sound like good news, but here’s the catch- More buyers re-enter the market, leading to more competition and higher home prices. Plus, there’s a big shortage of starter homes. Builders might get a boost from lower rates, but new homes take time. So, while lower rates can help your monthly payment, high home prices still make affordability tough. In short, the rate cut helps, but it’s not a magic fix for homebuyers. https://lnkd.in/gxyh3-Dt