Ben Eisen
speaker
1,467 appearances
35 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Ben Eisen’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · The Fed Is Cutting Rates. Why Aren't Mortgage Rates Falling? · 11 Nov 2024
podcast
There's a lot of different variations in rates depending on which lender you talk to.
Talking to a lot of different lenders generally gets you a lower rate.
That's the advice that
financial experts tend to give to people in the market for a mortgage.
Well, mortgage rates, like any type of borrowing cost, depend on your credit.
They're underwritten based on
your credit score, your income, how much in assets you have, how large the loan is relative to your assets and income.
The better your financial profile is, the lower the rate you tend to get is.
That said, again, rates can be somewhat random.
And the more you shop around, the better rate you are likely to get.
If you do see sort of a substantial weakening of the economy, at which point the Fed kind of needs to cut to keep the economy from getting significantly worse very rapidly, that's sort of when you see mortgage rates increase.
drop very fast.
So think about at the beginning of the pandemic when the Fed was racing to cut interest rates because the economy was shutting down.
That's when you got those mortgage rates that were around 2 percent, 3 percent.
It's the seller basically transferring their own mortgage to the buyer.
And when they do that, the buyer keeps the rate that the seller had.
So if it was 3% or 2.5%,
They keep that.
When you look at the housing market these days, there really just aren't a lot of transactions.
The number of transactions is down sharply from a couple years ago when rates are low.
Showing 101–120 of 1,467 · page 6 of 74
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