A Special Message about Mortgage Rates from Fairway Mortgage
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Here are a few fast facts to help you understand, courtesy of Mortgage News Daily:
• You can’t get a lower rate right now just because the Fed cut rates again
• If you didn’t check on Friday afternoon, rates got a lot higher than you may have realized.
• You CAN, however, probably get a lower rate at some point in the coming weeks thanks to the Fed’s reinvigorated mortgage bond buying efforts
• Lower rates aren’t immediate or guaranteed, so make sure your originator has what they need from you in order to lock it when and if your desired rate becomes available.*
(*Here is a link to basic documents to have available when discussing a mortgage or refinance. Depending on your situation, other documentation may be needed).
For more in-depth information, please read this article:
If you have any questions or concerns, we are here to help.
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