Fed’s Didn’t Raise Mortgage Rates
🚨 The Fed raised interest rates yesterday—but that does NOT mean your mortgage rate automatically went up 0.25%. The Federal Reserve increased its benchmark target range to 3.75%–4.00% as it continues trying to bring inflation back toward its 2% goal. For Long Island buyers, the bigger issue is your monthly payment. Mortgage rates are influenced heavily by the bond market and longer-term Treasury yields—not simply by adding the Fed’s rate change onto your mortgage. And on a large Long Island mortgage, even a half-point difference can mean hundreds of dollars a month. For sellers, affordability matters too. Buyers are calculating price, mortgage rate, taxes and insurance together when deciding what they can comfortably afford. Don’t make a buying or selling decision based on one headline. Run the actual numbers. #CommunityJoe #LongIslandRealEstate #LongIslandRealtor #MortgageRates #HomeBuyingTips