Overthinking Fed Rate Drops!

Did you get caught overthinking the most recent Fed rate drop? Me too! For the second time in a row, short term rates dropped and mortgage rates rose or remained stagnant. This recent trend is, in general, not what used to happen. You could almost count on long term rates following short term rates after the Federal Reserve took action. But what’s been true in late 2024 and with the most recent 2025 rate movement is borrowers would have been better off locking an interest rate in the days leading up to the actual event! Because afterwards, the mortgage rates either went up or up or up slightly and then stagnant. So no overthinking from now on!  My recommendations moving forward, until proven wrong, will be to lock your rate in the week preceding the expected Federal Reserve action! Just call me when you are pondering purchasing or refinancing and I can explain the whole process. I am waiting for your communication at Mitchell Mortgage, “Where the Broker is ALWAYS working on your home loan”! Ask for Michael Mitchell at 707-337-5970 Mobile, or 530-406-2200 and 707-259-1117 landlines. Talk to you soon!