GRAND RAPIDS, Mich. — Federal Reserve Chair Jerome Powell announced on Wednesday afternoon that the central bank is cutting interest rates by a quarter of a percentage point.

It’s the second time in a row that the Fed has cut borrowing costs, a benefit to consumers amid an uncertain economy.

For many, the decision spurred a question: what impact will it have on home ownership?

And, if you own a home, should you consider refinancing your mortgage?

Of course, there isn’t a ‘one size fits all’ answer. It all depends on your personal finances and goals, among other factors.

But, two experts told 13 ON YOUR SIDE that conditions are favorable to refinance your mortgage or buy a home, particularly in West Michigan’s ‘hot’ housing market.

“Right now, we're seeing interest rates the lowest

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