Mortgage rates are shifting—see what it means for you.

by Jonathan Plummer

Check out the latest news on the Federal Reserve involving interest rates…

Fed Rate Cut Sparks Mortgage Market Moves 📈📉🏢🌍

The Federal Reserve approved its third rate cut of the year on Wednesday, lowering the short-term federal funds rate by 25 basis points (0.25%). This move brings the benchmark rate down by a full percentage point from its 2023 peak of 5.5%—the highest since 2001. 🇺🇸💸📉📈📂 This move brings the benchmark rate down by a full percentage point from its 2023 peak of 5.5%—the highest since 2001. 📉🏦💹

Why It Matters💡🏠📊

Yields on 10-year Treasury notes jumped, causing 30-year fixed mortgage rates to climb 21 basis points to 7.13%.
The Fed’s “dot plot” shows limited enthusiasm for future rate cuts in 2025 and only a half-point reduction projected in 2026.
Higher mortgage rates could challenge affordability, though rates may stabilize near 6.5% in the coming years, according to the Mortgage Bankers Association.
📈📉🏡 Yields on 10-year Treasury notes jumped, causing 30-year fixed mortgage rates to climb 21 basis points to 7.13%.
📊📒💡 The Fed shows limited enthusiasm for future rate cuts in 2025 and only a half-point reduction projected in 2026.
🏠🚀💳 Higher mortgage rates could challenge affordability, though rates may stabilize near 6.5% in the coming years, according to the Mortgage Bankers Association.

What Does This Mean? 🤔

Homebuyers: Expect higher monthly payments due to increased mortgage rates. Consider locking in rates if you’re ready to buy.

Sellers: With rates rising, motivated buyers may still be active, especially in well-priced, move-in-ready homes.

Investors: Rental demand remains high, making multi-family properties an attractive option.

Neighborhood Spotlight 🏘️

The charm of Louisville's Crescent Hill neighborhood, known for its historic homes and vibrant local shops.🏡🛍️🍴 It's a top choice for both families and first-time buyers! 🏘️✨

Did You Know? 💡

Homeownership can build wealth over time. On average, homeowners have 40 times more net worth than renters—highlighting the power of investing in real estate!

Stay Informed 📱

Have questions about how this affects your real estate goals? Reach out today—call, text, or reply to this email!

Let's Grow 🚀

Jonathan Plummer

Mortgage rates are shifting—see what it means for you.

by Jonathan Plummer

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