CHRISTIE’S INTERNATIONAL REAL ESTATE, SERENO

Are home loans getting less expensive? The Federal Reserve met this week and lowered the prime rate by 50 basis points. What does that mean? It doesn't directly lower mortgage rates.

I’m a Realtor, not an economist. My take on this news is that inflation has cooled a bit, though I see expensive prices at the grocery store. People are expecting mortgage rates to fall with inflation cooling. They have already been falling in anticipation of this Federal Reserve decision. My favorite gurus have been predicting since early this year that rates would go down, and that they should go down next year too. This is great for homebuyers, though my favorite strategy is to buy the property you want, before that price goes any higher. Worry about the loan later. Loans can be refinanced. The phrase going around is “marry the house, rent the rate.”

This all looks positive for homebuyers, because we are looking at lowering those borrowing costs.

Check out the most recent Santa Clara County stats below.

Single Family Homes

Condos and Townhouses

Did you know that I can also show you NEW CONSTRUCTION, MODULAR HOMES, and MOBILE HOMES?

408-644-5159
Erin@BenfordRealEstate.com
18+ years of Licensed Experience
46+ years of Owner Experience

One can download information from the internet; but, one cannot download expertise. We look for the red flags and negotiate for a living. Hire the experts. We will tell you the truth.