interest rate

Fed Interest Rate Update March 6 2024

March 6th, 2024

The Federal Reserve Chair wrote in prepared remarks for a mandated regular appearance at congress that he doesn't anticipate rate drops quite yet. Inflation is still above the central bank’s goal of 2%, which is why the Federal Reserve Committee is not planning to drop rates at this time. The Fed Chair did say that [...]

Fed Leaves Rates the Same January 31 2024

February 1st, 2024

The Fed left the interest rates the same when they met on January 31, 2024. They stated that there are currently no plans to cut rates, as inflation is still above the central bank’s goal of 2%. They also indicated that as of right now, there are no plans to hike rates. Fed Chair Jerome [...]

Fed Interest Rate Unchanged November 2023

November 2nd, 2023

The Fed did not hike interest rates at the beginning of November 2023. This is a continued pause after the Fed also did not raise rates in September 2023. What does this mean for you and possibly buying a new Baltimore home and getting a mortgage? There should not be much of an effect on [...]

Fed Interest Rate Hike July 2023

July 28th, 2023

The Fed hiked interest rates again at the end of July 2023. What does this mean for you and possibly buying a new Baltimore home and getting a mortgage? Hopefully there won't be much effect on your potential mortgage rate. Mortgage rates are affected by many factors. Yes, the Fed's spike may be one of [...]

Fed Interest Rate Update March 2023

March 23rd, 2023

The Fed hiked the interest rate up 1/4 of a point on Wednesday, March 22, in an attempt to continue to fight inflation. This is the ninth interest rate hike in the past year. The Fed did imply that the collapse of Silicon Valley Bank and Signature Bank may pause further increases in interest rates, [...]

Home Prices are Rising as Interest Rates Remain Low

October 16th, 2020

Home Prices are Rising as Interest Rates Remain Low. As many of us in the Baltimore real estate market know, COVID created a wild real estate market with many homes receiving multiple offers and selling above asking price as there has not been enough inventory of homes to meet the demand of buyers. Some people [...]

How Does the Interest Rate Affect My Homebuying Power?

March 27th, 2018

How does the interest rate on a mortgage affect my homebuying power? First, you should understand that the higher your mortgage amount, the more the rate could affect your homebuying ability. In an article by smartasset (TM), it notes that a 0.5% rise in interest rates can raise your monthly payment by $28 per $100,000 [...]

Should I Wait for House Prices to Drop?

April 3rd, 2011

A question that many buyers have been asking is whether they should buy a house now, or wait until prices drop. Guest blogger, George Kennedy, of Wells Fargo Home Mortgage, offers some thoughts in his post. Should I wait for prices to drop? The question should not be whether or not house prices will fall, [...]

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