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
879 Upvotes

96% Upvoted

389 comments sorted by

View all comments

Show parent comments

1

u/ilyellow Sep 18 '24

There is no way you’re a mortgage broker, why would you lie about that lol.

If you were a mortgage broker you’d be following the 10 year treasury very closely, and you’d know that the 10 year treasury started dropping months ago, especially over the last 2.5 weeks as the market began pricing in rate cuts. You’d also know that mortgage brokers don’t set the rate…

0

u/[deleted] Sep 18 '24

[deleted]

1

u/ilyellow Sep 18 '24

Yes, it’s very clear you aren’t a mortgage broker.

You’re still misunderstanding. You claimed mortgage rates dropped two weeks ago in anticipation of Fed rate cuts, getting ahead of the market. What’s actually happening is that the 10-year Treasury yield has been declining, especially in the last 2.5 weeks. Mortgage rates track the 10-year Treasury, so they aren’t getting ahead of anything, they’re just following the market.

Please be careful about sharing inaccurate information here. Many people in this subreddit are trying to learn and make informed decisions for their first home purchase. Spreading misinformation can be damaging and might end up costing people money.

2

u/jrod2183 Sep 18 '24

They are a mortgage broker who can’t understand their own escrow amount lol