Mortgage Rates Dip to Lowest Level Since February

August 1, 2024

Mortgage rates declined to their lowest level since early February. Expectations of a Fed rate cut coupled with signs of cooling inflation bode well for the market, but apprehension in consumer confidence may prevent an immediate uptick as affordability challenges remain top of mind. Despite this, a recent moderation in home price growth and increases in housing inventory are a welcoming sign for potential homebuyers.

Considering Refinancing? Fed Rate Cuts Could Be Your Opportunity!

If you purchased your home from late 2022 until now, upcoming Fed rate reductions might make refinancing more attractive. A predicted 25 basis point cut could happen as soon as the end of the month. Lower your mortgage rate, reduce your term, or tap into your home equity for improvements and investments.

Options with Your Home Equity:

Pay off Student Loans
Consolidate Debt
Home Improvements
Eliminate Mortgage Insurance
Free Up Money to Invest
Buy Another Home

Call or message me today to discuss options.
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Source: Freddie Mac: https://lnkd.in/eZpg3k86