What’s happening with the Federal Reserve and interest rates?
The Fed met again recently and decided they would lower interest rates. A lot of people think this applies directly to mortgages, meaning that anytime the Fed lowers interest rates, mortgage rates drop as well.
This is partially true, but the effect isn’t always immediate. Sometimes the mortgage industry anticipates these rate drops and prices themselves ahead of the Fed meetings.
Now that we’re into the fourth quarter of 2019, rates are at an all-time low. It’s a great time to buy a home, and we have a product called the Keller Mortgage ZeroPlus loan that can help you. It’s a no-fee mortgage (no origination fee, processing fee, or application fees), which essentially makes it a free mortgage. They still have competitive rates, too, because the lenders don’t spend a lot of money advertising for their business.
Additionally, the “Plus” part means that if the mortgage balance is over $150,000, you’ll get a $1,000 lender credit that you can use for third-party expenses at closing. This is also a great option if you’re looking to refinance.
If you’d like to know more about this loan product and what it can do for you or you have any other real estate questions, don’t hesitate to get in touch with me. My team and I would love to help you.