#1 Home Buying Mistake in 2024

[@DatBoiii_T]

My friend, an agent, said it usually takes about two weeks after the Fed drops before we see fundamental rate changes because the banks have to adjust and prepare to start new offers based on the bonds. I don't know if that's correct, but hey, what do I know? I'm just a homeowner ready to refinance from my 6%

[@JoshAlexanderRealEstate]

thanks for the input, for shorter term rates like 4-7 year car loans, that is correct, but not for long term mortgages as this rate cut and most of the other expected rates cuts this year have been factored in already so I wouldn't expect any major shifts in rates due to the feds lowing their rates this year. However, like I said in the video, rates can still go down if we get better inflation data, or worse unemployment data, before the end of the year. I have plenty of lender quoting in the high to mid 5s right now with good credit so hopefully you'll have a chance to refinance soon!