Better Rates Ahead?

We’ve all been waiting for interest rates to fall. It’s taken longer than most expected. But are there greener pastures ahead?

Many predicted the FED would’ve been lowering interest rates last year, or early this year at the latest. But the FED has maintained it’s “higher for longer” stance through the time of this writing.
 
However, the Labor Department just reported that job growth slowed in July, and May and June numbers were both revised lower as well. This very weak jobs report is bad news for economy, but bad news is good for bonds and home borrower costs.
 
It now appears the FED will finally begin cutting rates in September, which could significantly help the housing market. For a couple years now, the housing market has been frozen by rates significantly off 2021’s all-time lows, creating a “lock-in” effect for existing homeowners, and harsh conditions for first-time homebuyers. Lower rates would provide some much-needed relief.
 
We’ll be sure to keep you posted as updates continue!