I read a solid financial article today and wanted to share this valuable information with our clients. "The Fed’s Decision, Continued Home Appreciation, and Refinance Opportunities"
Key takeaways:
- The Federal Reserve has paused rate hikes for the second straight meeting.
- The strength of the labor sector remains a key factor in their decision.
- Home values have hit new all-time highs.
- Refinances still make up almost one third of all mortgage transactions. (Loan originations are at the lowest point, since 1995)
What this means for you:
- If you are considering buying a home, now is a good time to do so. Home values are expected to continue to appreciate.
- If you are considering refinancing your home, you may be able to save money on your monthly payments.
- If you have a lot of debt, you may be able to consolidate it into a lower-interest loan.
Here are some additional tips:
- Get pre-approved for a mortgage before you start shopping for a home.
- Shop around for the best interest rate.
- Consider a fixed-rate mortgage if you want to lock in your interest rate.
- Make sure you understand the terms of your mortgage before you sign anything.
- Work with a five-star agent to guide you through the process!
I hope this information is helpful. Please let me know if you have any other questions.
Author of the article: Tom Bonetto - NMLS 1431961 - AZ & CA
The Lending Coach.net
https://lendingcoach.net/nov-2023-fed-valuation-refi/