Every time. EVERY TIME. Every time the Fed cuts rates, mortgage ads fly from everyone's social media pages - "NOW IS THE TIME TO REFINANCE!!". The phones start ringing. "HELLO, I SAW THE FED CUT RATES, WHERE ARE RATES NOW!?".
There is perhaps no more confusing moment for the general mortgage marketplace than when the Fed cuts rates. Naive (and inexperienced) loan officers offer up their oft-incorrect take, or their personal-gain position of "it means now's the time to refi!". Realtors help spread the (mis)information, and the few, the proud, the Mar...I mean, the mortgage & real estate veterans, carry on knowing that what the Fed rate cut means isn't what most people believe it means.
I'd like to clear up the misconceptions, and provide a factual take on what the Fed rate cut means for the broader economy and for mortgage rates, specifically (which also plays into what home prices are likely to do in the future). You can read all about it here: https://www.jmloans.com/what-does-the-fed-rate-cut-mean/
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