FED Drops, But Rates Pop

Welcome back, Dreammakers, to Today in Mortgages! In this episode, hosts Michael and Richard discuss if we are finally getting relief from high interest rates. The industry expected a cut in interest rates by the fed, which we got! But mortgage rates have worsened. We are still dealing with the bigger issues of worsening unemployment, and the fed wants inflation to come down to 2%. Nobody know’s where we go from here. What we do know is that rates have slowly come down the last few years. A good way to anticipate where mortgage rates are going it to follow the 10 year treasury. In our experience, until the treasury drops below 4% our rates are going to stay elevated.

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