NEW YORK (AP) — The Federal Reserve has cut its benchmark interest rate from its 23-year high, with consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses. On Wednesday, the Fed announced that it reduced its key rate by an unusually large half-percentage point, to between 4.75 and 5 percent, the first rate cut…

Independent brokers offer a faster, easier, and cheaper mortgage pathway with personalized services and access to diverse products.A common myth is that brokers are expensive, but they actually offer lower fees and better deals.

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Beyond the pride of owning a home, there are significant financial benefits that come with it, especially during tax season. Navigating these benefits can sometimes be overwhelming due to the complexity of tax laws, but understanding them can provide substantial financial perks. Mortgage Interest Deduction Homeowners can deduct the interest they pay on their mortgage,…

Are reverse mortgages puzzling you? With so much conflicting information available, it can be a challenge to understand them thoroughly. This post aims to demystify reverse mortgages by presenting ten essential facts, offering balanced insights whether you’re considering one or exploring other options. Reverse Mortgages Use Your Home’s Equity Reverse mortgages allow homeowners to borrow…

Interest rate cuts expected by the end of 2024, affecting homebuying decisions.Even small rate cuts could bring millions of buyers back into the housing market.

Brief window for refinance boom expected following the rate change, expert says. In a significant shift from its previous monetary policy stance, the Federal Reserve announced Wednesday that it would lower its fund rate by 50 basis points to a range of 4.75% to 5%.   The move comes as concerns grow over slowing economic…

The Federal Reserve doesn’t set mortgage rates outright. But its decisions in setting interest rates do play a role in the percentages lenders offer would-be homeowners. And even if the Fed keeps things unchanged, mortgage rates can still fluctuate. So, overall, how do the Fed’s monetary-policy moves affect mortgages — and influence the cost of…

We publish daily coverage of mortgage rate movement and have done so for nearly 20 years now.  It’s a great place to quickly check in on rate trends and to get a sense of what’s true and what matters.  If you’d been checking in at any point in the past few days/weeks, you likely saw…

The Federal Reserve took the widely expected step Wednesday of announcing its first interest rate cut in years, a move that will have a major impact on the finances of Americans across the board, making borrowing cheaper, though the golden days of high-yield savings instruments may be over. Key Facts The Fed’s policy-setting committee cut the federal funds rate…