The Cost Of Buying A Home Just Went Down ... Episode 227
Description
The Cost Of Buying A Home Just Went Down ...
...As The Fed finally reduced interest rates at this weeks meeting
which will lower monthly payments for home shoppers
the .25% drop is the 1st one in almost a year
it was a highly anticipated move
and most banks had lowered interest rates in advance of the meeting
so the rate reduction is already priced in for most lenders
due to that we may not see rates drop futher in the next few weeks
what I found really interesting
is that Fed Chairman Jerome Powell signaled to everyone
that the Fed is aligned to drop interest rates by .25%
at each of the last 2 Fed Meetings of 2025
circle October 28-29 and December 9-10 on your calendar
if you are trying to time the market for a home purchase
oddly enough the rate drop also caught the attention of home sellers
watch for an increase in new homes hitting the market
as sellers will be more willing to trade their current low rate
as today's rates are getting closer to what they have now
if there is any downside to all of this
it might be that those waiting for home prices to drop
may actually see them continue to go higher
as purchasing power just increased for most buyers
check out today's show for all the details
United States
