If you’re in the market to buy or refinance a home, you might’ve celebrated when you heard about the Federal Reserve’s recent rate cut. Many people assume that when the Fed lowers rates, mortgage interest rates will follow. But if you’ve been watching the market, you might have noticed that mortgage rates didn’t budge—or even […]
The 30-year fixed-rate mortgage is now passing the 8% interest rate mark, the highest rate in 23 years.In less than two years, the average monthly mortgage payment on a $300,000 loan has increased over $1,100 per month. However, homeownership remains the primary cornerstone of building financial stability. And, with expectations of potentially lower rates by […]
