Economy

The federal funds rate and mortgage rates are both types of interest rates, but they operate differently. The Fed directly controls the federal funds rate, which primarily influences short-term interest rates, while mortgage rates are determined by lenders based on long-term bond yields and various economic factors like inflation and market demand. This means that […]

You may have heard that the Federal Reserve Board (FED) is meeting next week – so what does that mean? Think of the Fed lowering interest rates like a store putting items on sale. When prices drop, people are more likely to buy things. Similarly, when the Fed reduces interest rates, borrowing money becomes less […]

Mortgage rates have been below 4% for 96 weeks in a row.   Today, the average 30-year fixed mortgage rate sits at 3.17%.   This is 0.5% lower than January and exactly 1.0% lower than March 2020.   Rates recently ended a 31-week streak of being under 3%.   Over the last 5 years, rates […]

According to research from the National Association of Realtors, home prices have appreciated for 107 straight months.   The median price in the U.S. is now $309,000.   The U.S. region with the highest median price is the West at $461,800. The lowest is in the South at $263,300.   All regions showed double-digit price […]