The Frick Firm, LLC’s Post

The Fed is expected to play it safe when it meets later this week, keeping the benchmark interest rate unchanged as inflation has yet to meet the 2% target, experts say. #davidralphrealtor #tnrealtor #memphisrealestate #cryeleikecollierville #housingmarket2024 #memphisrealtor #cryeleike  #colliervilletnrealtor #sellingahome #buyingahome #preapproval #mortgages #colliervillerealestate #interestrates #ilovemyjob #ilovemyclients #buyside #buyacolliervillehome #buyacordovahome #interestrateupdate

What’s Keeping Rates High? The delay in lowering interest rates is significantly impacting the economy and housing. Mortgage rates are tied to interest rates. #TheAbedGroupFlorida #BrokerWadeFlorida #HomeMortgageInterestRates #FloridaHousingAffordabilty #FederalReserve #CentralBankUSA

The delay in lowering interest rates is having a significant implication on the economy and housing. Mortgage rates are tied to interest rates. What questions do you have about real estate? Call me, let's talk real estate 305-509-1585 flo@valdiviahometeam.com

While the projections for the policy rate at the end of 2024 did not change, policymakers expect fewer rate cuts in 2025 and 2026 than they anticipated in December. In other words, interest rates are poised to stay higher for longer. #mortgagerates #mortgage #mortgagelending

In addition to the buyer upside of affordability and lower costs to get into home ownership, we believe the lower interest rate environment will give sellers the ability to list and move as the difference between their existing mortgage and a new mortgage is so much less than a year ago. That has been one of the big contributors to lack of housing supply.

Determining the precise factors that can reduce inflation rates is complex, as it typically involves multiple variables. While high interest rates are a significant factor, the Federal Reserve has recognized that raising interest rates alone may not be sufficient to curb inflation. Other variables must also be considered. Fortunately, many individuals locked in fixed mortgage rates during the COVID-19 pandemic, enabling them to repay their mortgages at lower rates, which has provided some financial stability

The mortgage market may have already largely built in the impending rate cut, as we’ve seen mortgage rates come down over the past few weeks. 

The gap between new mortgage rates (7.1%) and the average outstanding (3.8%) is the highest since the 1980s. Interest rates impact mortgage rates.

It’s been two years since the average 30-year fixed-rate mortgage topped 5 percent for the first time since 2011, and more than a year and a half since mortgage rates barreled past 6 percent for the first time since 2008. And now, mortgage rates have been stuck above 7 percent — a more than two-decade high — for seven straight weeks.

The gap between new mortgage rates (7.1%) and the average outstanding (3.8%) is the highest since the 1980s. Interest rates impact mortgage rates.