The Federal Funds Rate is staying the same at 0 to .25%.
The Fed’s interest rate decision doesn’t directly affect mortgage rates, but today’s rates remain historically low.
Home owners and home buyers can take advantage of today’s low rates by:
- Buying a new home
- Refinancing to get a lower rate or eliminate mortgage insurance
- Financing home renovations
- Funding major expenses (like college tuition)
- Consolidating debt*
Curious about the Fed’s key short-term rate? Learn more in this article.
Don’t hesitate to reach out for a conversation about home financing.
* Debt consolidation does not pay off the debt, please consult a financial advisor regarding the effect of consolidating short term debt into long-term debt.
Article provided by R. Gomez, Loan Officer in Colorado Springs.