Fed declines to hike rates for first time in more than a year!

Fed declines to hike rates for first time in more than a year!

After 10 straight rate hikes, the Fed held policy rates steady at its recent meeting. 

Is this likely a pivot or a pause?

In a statement issued after their June meeting, the Fed reiterated their goal of keeping inflation at 2%. Though recent reports indicate a slowdown in rising prices, inflation is still above that mark. The Board will continue to monitor economic activity to make decisions on future adjustments, so it's too soon to know what will come next.

Please Note: Mortgage rates are impacted by market forces beyond Fed actions and will not necessarily change at the same pace as the Fed's moves. They often shift before the Fed acts, in anticipation of changes.

Is this the news you've been waiting for?

If so, let's start looking at your home financing now so you can lock in a rate you love when you're ready.

Are rates still higher than you'd like?

Options like fixed rate buydowns, hybrid ARMs and HELOCs can help you move forward with your plans.

Background on the Fed:

• The Federal Reserve Board (the Fed) controls the federal funds rate and discount rate, which are charges for overnight loans from bank to bank or from the Fed to member banks.
• The Fed has a standing goal to maintain inflation within a 2% range. Over the last year, they hoped to slow spending and inflation by making borrowing more expensive.
• The rate was lowered to near zero in March 2020 in response to the pandemic. These historic measures are now being reversed.

Don't let interest rates hold you back from making a move or accessing cash.
 
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