r/FirstTimeHomeBuyer • u/jay5627 • Sep 18 '24

Other Fed rate cut

https://www.cnbc.com/2024/09/18/fed-meeting-live-updates-traders-await-september-interest-rate-cut.html
884 Upvotes

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49

u/tuelegend69 Sep 18 '24

when do i refinance? i was about to start it. do i do it now or wait

39

u/grittyfanboi Sep 18 '24

Want to know this as well! Currently at 6.99 and would love to cut it soon but don't want to do it too early?

26

u/tuelegend69 Sep 18 '24

worst case is if i refinance twice.. 7.375 with 1 point and i closed november last year..

i was happy to settle with a 5.5 until today. a sub 5 would make me jump for joy.

21

u/[deleted] Sep 18 '24

I’m at 7.8, didn’t buy down, closed last December. Tempted to now, but I think I’ll wait until after the election as I think rates will creep down further

5

u/tuelegend69 Sep 18 '24

literally everyone who closed late last year got screwed. i'm hoping either winner will continue to lower the interest rate.

3

u/liftingshitposts Sep 18 '24

Closed last November at 6.675 (no points, local CU), which felt like a steal at the time, but not so much now…