This week, the Federal Reserve took a significant step by lowering the federal funds rate by half a percentage point, marking the first time it has done so in over four years. This move comes after a period of rate hikes that began in March 2022, which have impacted the mortgage industry by reducing sales opportunities for professionals in the field.
Key points:
– The Federal Reserve lowered the federal funds rate by half a percentage point after a four-year gap.
– The rate cut comes after a series of rate hikes that began in March 2022.
– Mortgage industry professionals have faced challenges with fewer sales opportunities due to the Fed’s rate hikes.
– The question now is whether this rate cut will lead to improved conditions for professionals in the mortgage industry. It remains to be seen whether this will mark the beginning of better days for the industry.
You can read this full article at: https://www.housingwire.com/articles/what-happens-next-for-mortage-lenders-after-fed-rate-cut/(subscription required)
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