July, 2026"Understanding Your Debt-to-income (DTI) ratio"Your debt-to-income DTI ratio compares your monthly debt payments to monthly income. Mortgage lenders use this important financial
Will 2024 mortgage rates finally drop?
Dated: January 15 2024
Views: 9
When will interest rates finally drop? That is the magical question on everyone's mind.
According to bankrate.com, the Federal Reserve is signaling a shift in its monetary policy, indicating an expectation to cut interest rates in the coming year. Following the final rate-setting meeting of the year, it was revealed that only two of the 19 officials on the Federal Open Market Committee (FOMC) anticipate interest rates to remain in their current target range of 5.25-5.5 percent by the end of 2024. The majority of officials, including one who predicts six rate cuts, foresee a reduction in interest rates. This move is seen as a response to the central bank's efforts to address inflation concerns and adjust its policy stance. Read the full story here.
While we do not know when and by how much mortgage interest rates will drop, there is importance in following the news and events so that when it does happen, you can be on the lookout.
Elena Nasto
For me, real estate has always been about more than just buying or selling a home — it’s about being part of the community and helping people find their place in it. I truly love where I l....
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