Why Aren’t Mortgage Rates Dropping Even When the Fed Cuts Rates?
With all the news about the Federal Reserve lowering rates, you’d think mortgage rates would be plummeting. Unfortunately, it hasn’t quite played out that way—mortgage rates have actually been inching up! So, what gives? Fed Cuts vs. Mortgage Rates: A Misunderstood Relationship The Fed recently lowered its benchmark rate in hopes of making borrowing more […]
How the 2024 Election Could Impact Your Mortgage Rates
With the presidential election around the corner, mortgage rates might be feeling the effects, depending on who wins. Here’s a quick look at what could happen: Rates Are Rising Mortgage rates have increased in recent weeks, influenced by market expectations about possible election outcomes. Inflation Concerns Some economic proposals—like tariffs, changes to immigration […]
Stay Ahead with Rate Alerts
Stay Ahead of the Market with the California Employee Loan Program (CELP) Team at Fairway Independent Mortgage Corp. The California Employee Loan Program (CELP) Team at Fairway Independent Mortgage Corp. is proud to introduce a new service designed to make homeownership more accessible for public employees across California. Our innovative Mortgage Rate Alert Service tracks […]
Timing is Everything, Maybe.
Timing is everything, maybe. The recent jobs report was a reminder to homebuyers and homeowners looking to refinance that trying to time mortgage rates is tricky and can be risky. Many people expecting lower rates were surprised when they went up instead. Last week, the 30-year fixed mortgage rate increased from 6.2% to 6.53%, meaning […]
Mortgage Rates Are Low – Is It Time to Refinance?
Did you hear? Mortgage rates are at a 15-month low right now, and with the Fed cutting rates, they might drop even more. If you’ve been thinking about refinancing your mortgage, this could be a great time to do it and save some money. But before jumping in, let’s break down how to figure out […]