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Fed Rate Cut vs. Mortgage Rates

Last week, in our Journey Home newsletter we included our first, of hopefully many more, Partner Corner section. This Partner Corner featured content shared by RMS Mortgage on their social page about the fed rate cut and what this means for mortgage rates. Something that confused many, including me I’ll admit.

Our friends at RMS Mortgage took to Instagram to share some insight on this topic. They noted, “The Fed rate cut does not correlate to a cut in mortgage rates. A Fed rate cut impacts short term lending rates to help stimulate the economy.”

Need more information? They also included a link to a Mortgage News Daily article on this topic. The author’s main point: THE FED DID NOT JUST CUT YOUR MORTGAGE RATES!

Bob Pezzella | Branch Manager | NMLS #112811

Photo credit: “Mortgage Rates” by Mark Moz on Flickr.