Arizona's Economy and Real Estate Market Updates

Nobody really knows how soon the Fed's rate cut will impact mortgage rates, or which direction rates will likely go.

For this reason, consumers are urged not to wait for the market to bottom before looking for a mortgage.

Although rates have been trending higher in recent weeks, they remain low by historical standards. So if you're looking for a mortgage, the time to act is now.

It's a bit easier to determine when the Fed rate cut will affect borrowing costs on adjustable-rate mortgages: You are likely to see a benefit the next time your mortgage resets.