SPRINGFIELD, Mo. — The Federal Reserve announced a new interest rate cut on Wednesday, September 17- the first cut since December 2024.

The cut brings the interest rate down between 4.00% to 4.25%, marking its lowest level since 2022.

Some realtors believe that the cut could be encouraging for people in the market for a home.

"One of the biggest objections that we hear is everybody's waiting for the interest rates to go down," says Kari Wyrsch, the director of sales for Graddy Real Estate, "I feel like it's just giving everybody some consumer confidence that things are moving in the right direction."

According to Wyrsch, mortgage applications in September have been trickling up. As demand is expected to rise, she recommends that people interested in buying a home should get active.

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