Gregory Ricks and Dwayne Stein discuss the current state of the mortgage market, emphasizing the importance of understanding the difference between federal funds rates and mortgage rates. They note that despite the Fed's recent 50 basis point rate cut, mortgage rates have risen, with 30-year conventional rates now at 6.9%. They highlight the challenges of inventory shortages and the impact of interest rates on homeownership decisions. Dwayne stresses the importance of budgeting, understanding financial options, and the benefits of homeownership. They also discuss the significance of estate planning and the need for legal documents like wills and powers of attorney.
KEY TOPICS
Financial Questions, Mortgage Rates, Federal Funds Rate, Home Ownership, Real Estate Market, Interest Rates, Refinancing Options, Home Equity, Down Payment, Private Mortgage Insurance, Home Appreciation, Financial Planning, Estate Planning, Financial Education, Mortgage Lending
For LIVE financial news talk radio, tune into "Winning at Life with Gregory Ricks" LIVE on Saturday Mornings on:
WRNO-News Talk 99.5 FM New Orleans - 10 am - 1 pm
WBUV-News Talk 104.9 FM Biloxi - 10 am - 1 pm
OR
For financial news talk ON DEMAND, tune into the Ask Gregory Podcast for more financial topics that may interest you! Visit: https://gregoryricks.com/podcast/
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