The Fed just lowered their rate by 1/4 point (0.25%)
How does that affect your local mortgage rates here in York, PA?
Well, the short answer is: It doesn’t.
At least not immediately. The Fed rates affect short term lending right away, but it takes time for that to trickle down to a long term rate, such as the rate offered on a 30 year loan for a home mortgage.
Please check with your local lender or your CENTURY 21 Core Partners’ agent for more info. Don’t believe all the hype that you are about to hear from those national mortgage companies. It’s all just click-bait. Always seek advice from a local professional.