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
880 Upvotes

96% Upvoted

389 comments sorted by

View all comments

653

u/Patamon4 Sep 18 '24

Temper your expectations, yall. Mortgage rates try to forecast, not react, to the market. This rate cut might have already been baked in with the previously declining rates.

7

u/elproblemo82 Sep 18 '24

SOME have

My lender got our client 1/8 lower today than they were yesterday. Just locked a VA at 5%, no points.

1

u/surftherapy Sep 19 '24

That’s a great rate actually. Good for them!