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Associate Announcement Post

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Associate Announcement
A Message from Clear2Close
Amanda Biffle
By: Amanda Biffle - Posted: Mon, Jun 27, 2022 @ 7:30 pm

From Gina:

Recently, the Fed hiked the Fed Funds Rate by 0.75%.  This was the third-rate hike of the year and the Fed also projects hiking another 1.75% over the four meetings that remain this year. 

Remember, the Fed Funds Rate is the overnight borrowing rate for banks, and it is different from mortgage rates.

But you may be wondering: How does this move in the Fed Funds Rate affect mortgage rates?

Mortgage rates are primarily driven by inflation, which is at a 41-year high.  When the Fed hikes the Fed Funds Rate, they are trying to slow the economy and curb inflation.  If the Fed is successful in cooling inflation, mortgage rates should decline.  History proves this during rate hike cycles for the past 50 years.

Please do your best to stay positive with your clients. Learn to speak payment range over interest rate (never be specific with either – you are not licensed to be a mortgage professional and cannot quote terms).

Reach out to me today.  I’m Gina Lemelin and I’m here to help you navigate these uncertain times and find you the best opportunities for a purchase or refinance.

 

770 540-6471

One Response

  1. Gina, Thank you for your insight and expertise, My client might not be moving towards closing if we didn’t have you in the mix, advising her and finding suitable options in a complicated situation.

    Reply

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