The Federal Reserve announced today that they will be increasing the Federal Reserve Prime Rate, also known as the Fed Funds Rate, but .25%. They expect to increase the interest rate by .25% every 6 weeks until they end the year at a total rate of 1.9. We started off the year at .05 where we have been sitting since April 2020. Prior to March of 2020 the Fed Funds Rate was 1.58.Verify my mortgage eligibility (Oct 5th, 2022)
Do you want to understand what this all means to you? How do we expect the future of the real estate market and mortgage rates respond?
Additionally on this show, we brought in Michael Mazure with United Capital Group. Michael talked about Hard Money Loans and the loan scenarios that would benefit from hard money lending.
This was a great show, a little long, but it had a ton of great content!Verify my mortgage eligibility (Oct 5th, 2022)
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Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NV-57237, OR, TN-184373, TX, WA-MLO-237926Show me today's rates (Oct 5th, 2022)