Money Minute: Mortgage rates

Money Minute: Mortgage ratesMoney Minute: Mortgage rates

In the last two weeks, mortgage rates have decreased.

“Mortgage rates have dropped to the lowest level in three years,” said Pete Eckerline with Eckerline Wealth Management.

He says now may be the time you’ve been waiting for, with the current rate at just under 6%.

“It’s going to bring more people into the market,” Eckerline said.

He adds that the Fed’s decision on interest rates could have an eventual effect on home mortgages, and if it goes lower, Eckerline says that would accelerate housing in the country.

Eckerline says to get your pre-approval ready by calling your bank and mortgage lender.

“You want to be able to strike if something hits your parameters.”
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