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Why Didn't Mortgage Rates Fall?

by Team Farnham

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I want to clear up some confusion around the recent drop in the Federal Funds Rate and why mortgage rates didn’t follow right away. Many people expected them to fall, but mortgage rates are influenced by a lot of factors like inflation and economic reports. Often, they adjust ahead of time based on what the market expects. Even though rates are fluctuating, it’s still a great time to buy a home, and you can always refinance later. Be sure to check out the article I’ve linked for more details, and feel free to reach out with any questions! 
 
Read Article: https://www.nerdwallet.com/article/mortgages/fed-mortgage-rates
 
 
Matt Farnham
Fiv Realty Co.
Lic # B.1000941
702-530-7289
team@teamfarnham.com
 
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