Unlike some of the Fed's earlier rate decreases - this one seems to have had a positive effect on mortgage rates. The bond market is reacting very favorably to the Fed's decision and we're seeing that in the 30 and 15 year mortgage rates. Hopefully, this will continue for a few days :)
Just today someone mentioned to me that everything in the market seems negative - my encouragement to you is that there are many good things happening in the mortgage market. We're helping people everyday lower their monthly payments, purchase homes, get money needed for college, etc. The news media loves to focus on the worst case. Please don't misunderstand - I know that there are real people with real problems right now, but it's not everyone in the country and even for those who think there is no hope, there's always a light at the end of the tunnel.
Blessings,
Karen
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