This is what they call an “emergency rate cut”. We haven’t had one since 2008.
Here are some of the mortgage rates today: FHA 3%, VA 3%, Conventional 3.25%
What does that mean if you are buying a home? Well, if you could afford say $200,000 at 4%, you can now afford a little over $212,000 or you can have a payment that’s $170 lower than before. Thats a big difference.
What does that mean if you are selling a home? Your home just became more attractive for buyers… and now there are more buyers that can afford your home.
These rates are incredible. It’s as great time to buy or sell. If you want more details, please contact one of our agents. We would love to help.
THE RELENTLESS @ Century 21 Core Partners