Just a reminder to “marry the house” and not the rate. Even if the interest rate is a bit higher, remember, you will not pay the interest rate for the life of the loan. After a year of owning your home, you are eligible to refinance to a lower interest rate. Don’t allow doom and gloom prevent you from purchasing a home that you love and are qualified to buy. Have Questions❓ 📲 ContactAgiNow.com

The Federal Reserve met to set the stage for the rest of the year and make one of the most significant actions of Fed Chairman Powell’s one-and-a-half year long tenure. The meeting’s outcome is a quarter-percentage-point interest rate cut, the fifth time since the late 1980s.

Despite unemployment still sitting at a half century low, mild inflation, and the economy growing at a solid rate, this week’s cut is considered a highly unusual decision by many economists which normally would not call for extra stimulus.

Powell and his colleagues at the central bank assured that the decision is not motivated by presidential pressures, but the sole focus on keeping the economy growing. They also stated that it’s better to cut now to prevent a recession than to have to wait until a downturn begins.

Use my digital business card to call, text or email me at ContactAgiNow.com for a list of homes to buy. Hurry up and buy your home soon, before rates go up again!

Learn more about obtaining an FHA 203K loan for homes that need repairs, remodeling or both.