The Federal Reserve may not be finished raising interest rates!
Cleveland Fed President Beth Hammack is warning that additional rate hikes may be needed to fight inflation. CNBC reports that traders are pricing in nearly an 88% probability of another hike in December.
But here's what homebuyers need to understand: Mortgage rates don't wait for the Fed!
The bond market anticipates future Fed decisions, which means mortgage rates can move before the Fed actually takes action.
After 35 years in the mortgage business, my advice is simple: Buy based on what you can afford today, not what you hope interest rates will do tomorrow.
Buying or refinancing in California? DM me to discuss your options.
Have questions about buying, refinancing, or tracking your mortgage rate in California?
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Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate