According to Hartford Home's preferred lenders, Harmony Home Lending -all eyes are on the Federal Reserve and their 2-day meeting that concludes on Wednesday, September 18^thwith an announcement.  Most economists and financial experts anticipate a 25 basis point cut (0.25%), which is already priced into the market.  The more important piece will be the Fed’s tone and guidance towards the future.  The markets will be listening closely to their forecasts on inflation, GDP and the Unemployment rate.

What does this mean for YOU? Why do "interest rates" play such a huge part in buying a home? Well, they affect your monthly payment and your purchase power!

Today's rate is around 6.5%. A 4.49% rate can lower your monthly payment by $700. 

Here is where we stand today (On a Conventional loan with 25% down with 780+ FICO on a single-family home on a 30-day lock period; for condos, add .125% - .25% to the rate):

6.375% - 6.5% with no points

5.99% - 6.125%  with 1 discount point

5.5% - 5.625% with 2 discount

5.25% - 5.375% with 3 discount

For VA (for condos, add .125% - .25% to the rate):

6.00% - 6.125% with no discount points

5.625% - 5.75% with 1 discount point

5.375% - 5.5% with 2 discount points

5.00% - 5.125% with 3 discount points     

For an Investment/Non-Owner-Occupied property

                7.25% - 7.375% with no points

                6.75% - 6.875% with 1 discount point

                6.375% - 6.5% with 2 discount points

                5.99%- 6.125% with 3 discount points

CHFA loan

                FHA FirstStep Plus (1^st time homebuyer) 6.125%

                FHA Smartstep Plus 6.375% (non-1^st time home buyer)

                Conventional Preferred 6.5%

Rates ARE lowering! This is what most homebuyers have been waiting for. Take advantage soon before home prices increase. Hartford can lock you in at a 4.49% Locked 30 year rate when you sign a contract by September 30th and close by December 20th, 2024 and use Hartford's preferred lenders. 

CLICK HERE TO BROWSE ALL HOMES THAT CAN CLOSE BY DECEMBER 20TH

*Special financing rate offer paid for by Hartford Homes for select Hartford Homes contracts written by 9/30/24. Extension costs may apply if home closes after 12/4/24. Builder to pay up to $50,000 for rate offer. Any remaining buydown fees will be covered by the buyer. Buyer must use Harmony Home Lending, LLC to finance the loan. *4.49 interest rate based on a 30-year fixed rate loan with a 25% down payment on a $500,000 loan amount and assumes a minimum 740 credit score for the borrower, payable in monthly installments of $2,530.46. Loan will have a 4.554% Annual Percentage Rate (APR). Estimated monthly payment does not include tax, insurance premiums, or mortgage insurance (MI). Rates are effective as of 9/4/24 are for illustrative purposes only and are subject to change. Loan must close with Harmony Home Lending, LLC (Company NMLS 2128390). Corporate phone: 970-797-3335. Not a commitment to lend. Borrower must meet qualification criteria.