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HomeBusinessAct Quickly: Your Opportunity for a Refinance Awaits!

Act Quickly: Your Opportunity for a Refinance Awaits!

 

 

The Daily Money: If you’re considering refinancing, move quickly.


Following Donald Trump’s election win, bond yields saw a significant increase. This “Trump trade” is expected to push home loan rates up, according to Andrea Riquier, regardless of any decisions the Federal Reserve makes on interest rates this week. (More on the Fed’s actions later.)

Consequently, those interested in purchasing a home or securing a lower refinance rate should act quickly in the coming weeks, before rates potentially continue to rise.

What if the Fed reduced rates but nobody noticed?

The Federal Reserve is anticipated to announce a reduction in interest rates this week, as reported by Medora Lee, but the decrease may be minimal, leaving consumers largely unaffected.

 

When the Fed wraps up its policy meeting on Thursday, many economists predict a decrease of a quarter percentage point in the short-term benchmark fed funds rate. This would mark the Fed’s second consecutive reduction, yet it’s less than the half-point cut made in September that initiated the current rate-cutting trend.

In the midst of a busy election week, will consumers even take notice?

 

Impacts of Trump’s victory on the economy

 

In the long run, economists believe that the impact of increased import taxes and immigration limits will outweigh the advantages of lower taxes on consumer and business expenditure, which may slow down growth without leading toward a recession. For more detailed insights, read the full analysis.

 

A bit about The Daily Money

Every weekday, The Daily Money provides expert consumer and financial news from YSL News, making complex topics more understandable and clarifying how events—from Federal Reserve decisions to bankruptcies—affect you.