Interest Rates Are Doing What?

Something unexpected is going on with interest rates, and if you have been waiting for the best time to buy a home, this is something you may consider.  

That’s right, interest rates are doing something that many people did not expect. 

In fact, we just heard that the Fed has raised the federal funds rate by three quarters of a percent or 75 basis points. 

But what’s going on with mortgage rates? Actually, just this past week, we’ve seen mortgage rates at their lowest level since April of 2022. 

So, what does that mean? 

If you’ve been looking to buy a home and have been concerned about the affordability because interest rates just got too high, you may want to jump back in.