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The Fed Lowers Interest Rates 

The Federal Open Market Committee announced today that they are going to lower the Federal Funds Rate for the first time since 2008!

How does this affect Home Owner and Buyers? 

Rates have been low for a while, however not everyone has taken advantage by refinancing or purchasing a home. See below for some of the benefits lower rates offer: 

  • Purchasing a Home 
  • Financing Home Renovation Projects
  • Using Your Home's Equity To Fund Education
  • Consolidating Debt
  • Refinance To Eliminate Private Mortgage Insurance (PMI)
  • Refinance To A Lower Rate 

How does the Fed Rate affect the housing market and economy? 

  • The Fed doesn't decide the mortgage rates, however it can indirectly influence rates since their decisions are based on the overall health of the economy. 
  • Mortgage rates are hard to predict and are closely tied to mortgage backed securities. The Fed's rate can impact adjustable rate mortgages and home equity lines of credit. 
  • Credit cards and other short term debt can be affected when The Fed adjusts rates. 

Whether you are looking to purchase a home or are thinking about refinancing, Denver Realty Pro partners with some of the finest Lenders in the Denver metro area. Please give us a call. We would love to introduce you to our team.