Yes, Feds Reduced the Rates!
Tuesday, March 17, 2020
Yes the feds cut interest-rates but how does this affect real estate loans?
- Mortgage rates are not tied to the federal reserve rate which is the overnight bank to bank borrowing rate.
- Mortgage rates converse they are tied to the 10 year treasury bond. With that being said, that is a little market to say the least.
- My best advice is to get a loan application submitted to your lender so that when your target rate arrives you can be prepared to jump and lock it quickly. This does not obligate you to anything but in the market like this the demand can overwhelm supply.
- All that said it’s a great time to buy and sell real estate!! With today’s technology you can start shopping in the comfort of your own home!!
Give us a call with your questions!
Cindy Wood Realty Group
801-278-0999
Add Comment