This is a YouTube video titled "New Program for Lower Interest Rates! 📉 #mortgagerates #interestrate #mortgage" created in November 2023. The content is a promotional or informational talk by a single speaker explaining a new mortgage program offering lower adjustable rate mortgage options, particularly for FHA loans, in the context of recent interest rate changes and Federal Reserve policies.
Take advantage of a new way to get an even lower interest rate on your home loan. We all know that inflation's been pretty crazy the last two years and that's been pushing up the long term 30 year fixed mortgage rates and then the Fed has been raising their rates which is hurting short term rates like adjustable rate mortgages also known as arms. But the Fed's kind of started to pause on their rate hikes which has opened up a little bit of breathing room between short term and long term rates for the first time in quite some while. So we actually have a new program where our adjustable rate mortgages or our arms actually have a little bit of benefit on FHA mortgages. So right now, now today as interest rates for most lenders are about 8% and our FHA rates are in the low sevens for fixed we have adjustable rate mortgages FHA in the mid sixes. So yet another half to three quarters of an interest rate drop going to our adjustable rates on FHAs. A new trick to save with McGowan mortgages.
