Earlier this month, the Federal Reserve lowered its benchmark interest rate by 25 basis points and signaled it is prepared to make additional cuts this year.

Lenders are always trying to anticipate the Fed’s action and have been preparing for this latest round of cuts for the past few weeks. However, the forward guidance and clarity of future cuts have helped drive mortgage rates even lower, down to nearly 6%. These lower interest rates have had a positive impact on the local housing market, creating new opportunities for both buyers and sellers.

“The market has picked up for my buyers,” Terese Ferrara of Keller Williams Bay Area Estates said. “Many are actively engaging again, requesting disclosures and asking for detailed information about homes they are considering. The Federal Reserv

See Full Page