Borrowers are finally starting to see signs of hope.
Mortgage rates are at their lowest point in 18 months—and expected to fall further—after the Federal Reserve cut short-term interest rates by 0.50% or 50 basis points for the first time since the onset of the pandemic. One basis point is one one-hundredth of a percentage point.
If you’re debating whether to refinance or thinking about buying a home, this new environment presents a question: When should you act?
This post originally appeared at Forbes Advisor.