Mortgage Matters: Fed Rate Cuts, Mortgage Impacts, and Down Payment Assistance for Nevada Teachers
Roland and Heidi discuss the recent 0.5% interest rate cut by the Fed and its impact on mortgage rates, which saw a slight increase. They explain that mortgage rates are tied to Treasury yields and economic conditions, not directly to the Fed's rate. They highlight the "Home is Possible" program for Nevada teachers, offering $7,500 in down payment assistance. They also emphasize the importance of credit scores, noting that a minimum score of 580 is required for a 3.5% down payment on FHA loans, and provide tips on improving credit, such as paying bills on time and keeping credit utilization below 30%.
