While the Federal Reserve Board’s decision this week to hold its interest rates steady does not directly affect mortgage interest rates, the commentary coming out of the Fed Governors’ meeting about the fragile state of the economy pushed mortgage rates lower.
As always, lower rates mean better home affordability. That’s a welcome move given the way tight inventory of Flagstaff homes (and elsewhere) has been driving home prices higher this summer.
It’s a good time to buy. Get in touch with The Elite Team at RE/MAX Peak Properties!
More detail on the mortgage rate move: Mortgage Rates Near 4-Month Lows