Sep '24 • General discussion
The FED is dropping interest rates
The Federal Reserve is planning to drop interest rates .25%-.5% on September 18th. This should put mortgage rates somewhere around 5.75%-6% for PAR. This should be the beginning of them continuing to drop rates slowly over the next year. I have a lender that can get me a rate of 5.25% right now, and 4.5% if I buy it down with another point.
I am planning to refi my current home rate from 6.875% to 4.5% which should save me around $1,100/month on my payment....That's $13,200/year less just from decreasing the interest rate, and $13,200/year more on my cash flow if I ever turn this home into a rental.
If I can give you any advice/thoughts on your own interest rate, or getting a good rate with a new home purchase, reach out💰
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The FED is dropping interest rates
skool.com/velocitybanking
I teach how to get paid a commission to buy a home, Paying it off in 3-7 years, Getting your tax bill to $0 and having cash flow that funds your life.
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