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What does Fed rate reduction mean to me? (Mini Update)

So Feds cut a quarter point. Rejoice! But does that mean it is directly relational to you? No, unfortunately it doesn’t YET…..

There are a few more things that are in play to see how rates will be affected in coming days.

The ISM indexes (Services & Manufacturing) are coming out this week.

The Employment report comes out Friday-the total number of jobs, employment rates and wage inflation will actually be the most anticipated data in recent weeks.

Lastly-ongoing trade negotiations will also continue to influence rates.

While the Fed decrease is a major indicator, it isn’t the full picture on if mortgage rates will dip even further.

Mortgage rates in general have continued to stay quite low!  If you have purchased in the past 18months or so it really may be the time to consider refinancing. I am not shy about my favorite mortgage broker! Feel free to reach out if you would like a connection to the Shant Banosian Team at Guaranteed Rate or visit www.shantgr.com

Stay tuned! I will keep you updated.

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