Fed Announces No Rate Changes – Info from Prestige Capital
The Federal Reserve held the benchmark interest rate at 3.5% and 3.75% in their meeting last week. While Fed decisions do not have a direct effect on long-term mortgage rates, borrowing costs for home loans often mirror fed fund rate trends. Financial experts don’t expect to see further benchmark rate cuts until June, after Jerome Powell completes his four-year term as Federal Reserve Chair.
Mortgage Outlook
Overall, mortgage interest rates are still at the lowest level we’ve seen in the last three years, with the national average on 30-year fixed-rate loans fluctuating in the low 6% range.
The spring housing market is predicted to have more inventory available, leaning in favor of home buyers over home sellers.
If you – or your friends and family – are interested in reviewing your financial picture as it pertains to buying a home, investment property, or refinancing your current mortgage, please give me a call. My team and I are here to provide you with a complete loan analysis to make a sound decision.
Best regards,
Tracy Shaw
President NMLS # 913749 | CalBRE # 01894272
Direct Line: 626.758.0588
Prestige Capital Inc.
41 E Live Oak Ave, Arcadia 91006
Helping clients achieve home ownership with expert lending solutions and personalized guidance.
