What Are Interest Rates NOW?!?!?!

COVID-19 and Interest Rates- Lower than 3%??

What are interest rates right now? I just sent out an email to you guys saying the fed announced that the discount rate is down to 0.25%. Why aren’t interest rates below 3% to reflect that same spread? Well, here’s the answer.

Unfortunately, banks only have one way of regulating the amount of volume they get for refinances, that would be interest rates. Two weeks ago, when the feds first dropped the discount point half a percent and rates went down briefly to 3%, all of a sudden, a whole bunch of people went out to start refinancing and the people that were in the process buying we’re super happy. Now, two weeks later, even though the feds have lowered the discount rate, even lower, the pipeline for a lot of the banks is pretty full. When you hear me saying, “Hey, here’s the interest rate for this lender,” it means that it’s like a Kohl’s one day sale. Hey, we found something it’s on sale today. Go for it.

I’m giving you this tip so that you can take advantage of low interest rates when you see them while the comparable market analysis for your home or your investment property is up higher.

I couldn’t end this video today without giving a huge shout out to my Irish ancestry. My grandmother was born in Dublin. My mom is first generation Irish American, and I got to leave you with this.

May the road rise up to meet you. May the winds be always at your back. May the sunshine warm upon your face, the rain fall soft upon your fields. And until we meet again, may God hold you in the palm of his hand. See you soon.