The Federal Reserve lowered interest rates by 50 basis points (or 1/2 of a percent) in their meeting yesterday, noting that more rate adjustments may be coming in 2024.

Yesterday's move was widely anticipated, so mortgage rates didn't move dramatically. HOWEVER, in their dovish commentary, the Fed indicated the possibility of two (2) more rate cuts by the end of 2024, for an additional cut of up to 50 additional basis points! The next two meetings of the Federal Reserve on are November 7th and December 18th, 2024. Let's keep our fingers crossed for more rate cuts!

Ted Bland
Associate Broker, Realtor
Libertas Real Estate, LLC
250 N. Litchfield Rd. - Suite #261
Goodyear, AZ 85338

http://www.TedBland.Realtor
(480) 612-1919

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