The Federal Reserve announced a rate cut of 0.5%, more than most analysts expected. Nationally, mortgage interest rates continue to drop. Current rates are 6.25% for a 30-year fixed mortgage, down nearly two full points from last November. In our area, prices continue to climb while inventory remains low as fewer owners are choosing to sell their homes. Click the image below to watch our full monthly market report for details on the current state of DC-area real estate.
