BIG NEWS:

FED CUTS INTEREST RATES BY HALF POINT

...AS EXPLAINED BY MY FRIENDS

09.15.2024

A new era for residential real estate has begun. As your advisor, I’m here to help you navigate the changes that may impact your buying or selling journey, along with the micro and macro factors that affect us daily. Let’s simplify and dive into what the Fed’s rate cut means, with a little help from The GOAT and The Stilt.

FALLING MORTGAGE RATES

• The average payment on $500K home has dropped by $670/mo since last fall.

• The average payment on $750K home has dropped by $820/mo since last fall. 

• The average payment on $1M home has dropped by $1,010/mo since last fall.

Mortgage rates are expected to continue to decline, reducing monthly costs upon refinancing. But what comes next is TBD. Please consult with an expert. My lender partners are here to help. From large banks, small regionals, to mortgage brokers, we will find the best fit for you. 

*Each client and objective is different, so a broad strokes strategy is not the way I like to operate. Let's chat on what makes the most sense for you, your timeline, your goals.

MORE OPPORTUNITY FOR HOMEOWNERS

• Lower interest rates will reduce monthly mortgage costs, making homeownership more attainable.

• Homebuyers will have access to larger loans and increased purchasing power.

• Inventory should see a pickup as sellers see a more favorable market for selling.

EQUITY

• A lowering rate environment is generally good for stocks.

• A stronger stock portfolio, investment and retirement accounts will strenghten your financial profile, borrowing power, and home-buying prospects.

Michael Kahler

Licensed Real Estate Salesperson

M: 972.935.7904

michael.kahler@compass.com