If last month's surprise move by the Fed lowering the Fed Funds Rate by 0.5% had you hoping interest rates would immediately drop, you weren't alone. While the Fed Funds Rate does impact mortgage and other consumer lending interest rates, it's not a direct correlation. We were given a good reminder the market is as much about emotion and perception as it is data. After a couple weeks of slightly elevated rates from what we've seen recently, we look now to the election and its impact on markets followed immediately by the next Federal Reserve meeting on November 6th -7th.  

The good news is we're heading in the right direction, albeit at a slower, more cautions pace. As the year winds down, there is reason for optimism and continued progress in this space moving into 2025. 

About IntroLend Carolinas

IntroLend Carolinas is a mortgage marketplace that allows you to compare your options side-by-side, giving you the confidence to know you are receiving the best possible rate and terms. Helen Adams Realty has dedicated finance managers in their offices who have been in the mortgage and customer service industries for decades and understand how to take great care of any borrower in any scenario.