On this episode of The Randy Forcier Podcast, Chris Bedard and I break down the latest Federal Reserve meeting, the decision to raise the federal funds rate, and what we’ve seen with mortgage rates leading up to the announcement.

Rates have moved higher over the past several days, pushing 30 year mortgage rates back above 7%. We talk about why that’s happening, what the Fed is watching, and what higher rates mean for buyers who may have started their home search expecting something very different.

We also talk about why buyers shouldn’t make their decision based solely on an interest rate. Ultimately, it comes down to affordability, the monthly payment, and whether buying a home makes sense for your family and your situation.

Then we shift gears and go through some of the biggest misconceptions Realtors have about the mortgage process. Can we just get an appraisal waiver? Can we do an escrow holdback? If someone has great credit or a ton of money in the bank, shouldn’t they qualify? Can we challenge a low appraisal? And if rates drop after someone locks, can we just lower their rate?

We break down what’s actually happening behind the scenes and why there’s usually more to these questions than it seems.

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