Rates Just Dipped — Here's What This Weeks Fed Meeting Means for You

By Gina M. Garcia | San Antonio Real Estate

FED wording with down arrow and percentage sign on USD dollar banknote for Federal reserve decrease interest rate control which effect to America and world economic growth concept.

Wednesday's Fed meeting stirred things up for a minute, but today the news is good.

What Happened

The Fed raised rates on Wednesday, and Fed Chair Warsh's comments about future hikes spooked the market for a moment. That pushed the average 30-year fixed rate up to 7.24% yesterday.

Rates bounced right back today, and we're now at 7.19% — close to the lowest point we've seen all week. You can check the latest current mortgage rate quotes here, powered by Zillow Home Loans.

What This Means for You

Buying? 
This is your window of opportunity. Rates move fast, and every small drop adds real savings to your monthly payment. If you've been waiting on the sidelines, this is a great moment to get pre-approved and ready to move.

Selling? 
Lower rates bring more buyers off the fence and back into the market. More buyers means more offers, and more offers work in your favor.

Rates will keep moving based on economic data and factors like oil prices tied to the ongoing Iran war developments. Nobody has a crystal ball, but right now the trend is in our favor.

A Little Perspective. 

Here's something worth knowing: rates in the 6s and 7s are actually the long-term normal. The 2-3-4% range we all got used to was the government stepping in and manipulating the markets to prop up the economy — it was never built to last.

So where we're at right now isn't bad news. It's just normal, and that's something you can plan around with confidence.

Let's Talk 

If you want to know exactly what this means for your specific situation — whether that's buying, selling, or refinancing — REACH OUT TO ME HERE  or give me a call 210-274-7816. I'm always happy to walk through the numbers with you.