If the Federal Reserve lowers interest rates as expected on Wednesday, the decis...
- If the Federal Reserve lowers interest rates as expected on Wednesday, the decision could have wide-ranging implications for consumers’ wallets.
Broader impacts of the Fed’s decision to stop raising rates and start cutting them this year are already being felt across the economy. Investors anticipated that the Fed would cut further, lowering yields on bonds, and reducing mortgage rates. If the rate drops to 4%, that same monthly payment would support a home worth $209,461, or an increase of about $23,000. This can be good news for people who are struggling to find homes in their price range, said Tendayi Kapfidze, chief economist for LendingTree.com. But it can also help drive prices higher at a time when there is a shortage of affordable homes.
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