TIMING IS EVERYTHING
We have been asking, probably praying, for lower mortgage rates to boost the real estate market.
Finally, our hopes and prayers have been answered. Last month, the FED lowered rates. Following that announcement, mortgage rates remained unchanged.
Wait. What?
In August, two months prior to the Fed meeting, mortgage rates decreased. However, after they formally announced the change, mortgage rates remained unchanged. Doesn’t the FED have any control over mortgage rates?
