Executive Summary
Mortgage rates have been steadily declining in recent weeks, reaching their lowest level in two years. This downward trend is driven by several factors, including anticipation of the Federal Reserve’s decision to cut interest rates. While the Fed has indeed cut rates, mortgage rates have not fallen as dramatically as some expected. Despite this, the current low mortgage rates are making homeownership more accessible for many people. This magazine explores the latest news and analysis on mortgage rates and their impact on the housing market.
Mortgage Rates: A Two-Year Low
Mortgage Rates Plunge to 2-Year Low: Should You Lock a Rate Now?
With mortgage rates trending downward, it could make sense to lock in a loan rate now. This article explains why.
CBS News (8 hours ago)
US 30-year mortgage rate falls to two-year low of 6.15%
The interest rate for the most popular U.S. home loan fell last week to its lowest level in two years, driven by anticipation of the Federal Reserve’s decision to cut interest rates.
Reuters (10 hours ago)
Weekly mortgage demand surges 14% higher as interest rates hit two-year low
Applications for mortgages rose sharply as homeowners and home buyers pounced on falling mortgage rates.
CNBC (13 hours ago)
Current mortgage rates as of September 18, 2024: Rates dip closer to 6% as Fed meets
The current average interest rate for a fixed-rate, 30-year conforming mortgage loan in the United States is 6.031%.
Fortune (11 hours ago)
Mortgage Interest Rates Today, September 18, 2024 | Rates Way Down Ahead of Fed Announcement
Mortgage rates are down as the Fed gears up to start lowering its benchmark rate.
Business Insider (14 hours ago)
The Fed’s Role in Mortgage Rates
Fed lowers interest rates with surprising jumbo half-point cut
The Federal Open Market Committee (FOMC) cut their benchmark borrowing rate by half of a percentage point.
Bankrate (2 hours ago)
What the Fed Rate Cut Will Mean for Five Areas of Your Financial Life
This article discusses the impact of the half-point interest rate cut on car loans, credit cards, mortgages, savings, and student loans.
The New York Times (5 hours ago)
Here are 4 ways the Federal Reserve’s big rate cut could change the housing market
The Federal Reserve cut interest rates on Wednesday by half a percentage point. This article analyzes the potential impact on the housing market.
NPR (2 hours ago)
The Fed cut doesn’t mean mortgage rates will suddenly fall. But lower rates are coming
Buyers and sellers can benefit from how much rates have dropped already, off the expectation that the Fed would deliver an interest rate cut this month.
Fortune (6 hours ago)
The Impact of Lower Mortgage Rates
Mortgage Rates Plunge on Fed Day. Today’s Mortgage Rate, Sept. 18, 2024
Average 30-year fixed mortgage rates already dropped to 6.2% ahead of the decision. How low will they go?
CNET (6 hours ago)
Mortgage Rates Sink to Lowest Level in 2 Years – Sept. 18, 2024
Both the 30-year and 15-year averages are at their lowest levels since late summer 2022.
Investopedia (7 hours ago)
What the Fed’s rate cut means for consumers, businesses and investors
The Federal Reserve cut U.S. short-term borrowing costs on Wednesday by a bigger-than-usual half percentage point, a watershed moment in the central bank’s efforts to tame inflation. This article discusses the impact of the Fed’s decision on consumers, businesses, and investors.
Reuters (4 hours ago)
Mortgage Rates Are Coming Down. When Does It Make Sense To Buy Or Refinance?
Mortgage rates have been falling, and may fall further after the Federal Cuts interest rates. When should you look to make a move?
Forbes (6 hours ago)
Mortgage Rates: A Closer Look
Mortgage and refinance rates today, September 18, 2024: Rates have plummeted and should continue falling
This article provides the latest mortgage and refinance rates.
Yahoo Finance (6 hours ago)
Here’s how the Fed’s big rate cut affects mortgages
The Federal Reserve slashed rates by an unexpected 50 basis points today. This article explains how that could impact mortgages.
CBS News (5 hours ago)
Fed Cuts Rates by Half a Point; Mortgage Rates May Fall Below 6%
After sustaining a 23-year high for over a year, the Federal Reserve has elected to slash the federal funds target rate by half a point. This article discusses the impact of the Fed’s decision on mortgage rates.
NerdWallet (6 hours ago)
Mortgage Rates: Looking Ahead
Despite the Fed’s first interest rate cut in years, it may be too soon to refinance your mortgage. Here’s why
Homeowners shouldn’t expect much of a difference in mortgage rates after the Federal Reserve’s first interest rate cut in years.
CNBC (9 hours ago)
The Federal Reserve is finally lowering rates. Here’s what consumers should know
The Federal Reserve has cut its benchmark interest rate from its 23-year high, with consequences for debt, savings, auto loans, mortgages, and other forms of borrowing.
AP News (5 hours ago)
When falling interest rates will hit your credit-card bill, car loan and savings
The Fed’s interest-rate cuts will soften the prices consumers pay for debt — but people may not see an impact on their payments for a while.
MarketWatch (5 hours ago)
YouTube Insights
Mortgage rates below 6% will see consumers drive …
Mortgage rates below 6% will see consumers drive homebuilder activity, says Jefferies’ Phillip Ng.
CNBC Television (3:49, 9 hours ago)
Fed Rate Cuts Are Here! What That Means for You
The first thing I will do is finally buy a quadplex but I need something below 5.5 for it to make sense.
The Rate Update with Dan Frio (15:58, 9 hours ago)
How the Fed’s rate cut could impact mortgage rates and home …
Michael Armstrong of the Armstrong Advisory Group discusses the latest move by the Federal Reserve and its potential impact on the economy.
WCVB Channel 5 Boston (3:17, 2 hours ago)
The Fed Cuts Rates by 0.50% — What You MUST Know
This video discusses the impact of rate cuts on stocks, bonds, cash, mortgage rates, and credit card debt.
Humphrey Yang (12:23, 4 hours ago)
Fed Lowers Interes Rates By Half Point In First Cut Since 2020
First Time Homebuyers: Our Mortgage Advisers provide the help you need, backed by over 20 years of experience. Let’s get started!
The Rate Update with Dan Frio (1:01:48, 3 hours ago)
Reddit Discussion
Fed rate cut : r/FirstTimeHomeBuyer
Mortgage rates try to forecast, not react, to the market. This rate cut might have already been baked in with the previously declining rates.
reddit (216 upvotes)
Half Point! If the Fed cuts to 3 eventually, where will …
Interest rates on cash going down, but maybe it will help some homeowners who purchased in the last three years. I’ve heard Fed will cut to 3% by year end 2025.
reddit
Federal Reserve Cuts interest rates by 50 basis points
The Federal Reserve slashed interest rates by a half percentage point Wednesday and charted a course for two additional cuts this year followed by four more …
reddit
‘Fed lowers rates by 50 bps : r/RealEstate’
Mortgage rates are not tied to the fed funds rate. It’s based on the 10 year treasury. Mortgage rates have been a steady decline for over a month and it has …
reddit
‘Thoughts on 50bps rate cuts : r/Mortgages’
Rates are determined by mortgage backed securities prices. The rate cut was factored into the MBS market weeks ago. It’s not to attract business but based on …
reddit
Conclusion
The recent decline in mortgage rates is good news for homebuyers and those considering refinancing. While the Fed’s rate cut may not have the immediate impact some expected, the overall downward trend is likely to continue in the coming months. This creates a favorable environment for those looking to enter the housing market or secure a lower interest rate on their existing mortgage.
