BUSINESS DECENT. MORTGAGE RATE CUT IN SEPT?
MOVING SALES IMPROVING: Our moving clients around the country report improving sales and filling up schedules. Is anyone overjoyed? No. But most are keeping busy? Yes. The Fed may even make a ¼ point cut in September, about 75% of Wall Street bankers think. That is positive for more home sales and more demand for movers.
MORTGAGE RATE REDUCTION IN SEPTEMBER?: The Federal Reserve System is certainly not committed, but factors are beginning to align for such a cut. According to the CBOE Fed Ranker Probability Tool:
September Rate Cut Probability: 71%
November Rate Cut Probability: 88%
December Rate Cut Probability: 94%
With 60% of all mortgages at a 4% rate or under, homeowners need to see a lower rate to make a move to a new home within their budget.
Onward & Upward!
