Buying a new construction home right now can feel like you’re getting a deal—especially when builders advertise interest rates that are significantly lower than the market. You might see something like a 4.5% FHA rate when typical rates are closer to 6.5%. On the surface, that’s a huge win for affordability.
The Federal Reserve hit pause again and left the federal funds rate at 3.5% to 3.75%. For a lot of people in housing, that was disappointing but not shocking. There was some hope that weak job growth over the last year would finally be enough to push the Fed toward a cut. Instead, the Fed made it clear that inflation risk is still the bigger concern.v
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When homeowners consider refinancing, most focus on one thing: the interest rate. But the rate is not the most important number. The break-even point is. And this is where many refinance offers fall apart.
