In this week’s update, Dave breaks down the latest news on mortgage interest rates, upcoming Federal Reserve decisions, and what they mean for homebuyers in today’s market.
👉 Rates have stabilized—for now. But with Fed Chair Jerome Powell speaking soon and the FOMC meeting on September 17, big changes could be on the horizon.
🚫 Think you need 20% down to buy a home? Think again. Dave debunks this common mortgage myth and shares smarter, more affordable financing options.
💡 Whether you're buying your first home or considering refinancing, this video will help you make an informed decision based on facts—not fear.
Chapters:
00:00 - Introduction & Rate Watch Update
00:20 - Why Rate Stability Matters
00:50 - Upcoming Fed Events to Watch
01:20 - Should You Lock Your Rate Now?
01:45 - The 20% Down Payment Myth
02:30 - The Cost of Waiting to Buy
03:20 - Low Down Payment Options (FHA, MI)
04:00 - Final Advice & How to Get Help
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Dave Steinberg NMLS: #67325 Mortgage Broker Summit Funding
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Connect with me:
Office: 718.575.1166
Email: dave@summitfunding.com
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What you'll learn in this video:
1. Mortgage rates are currently stable, but upcoming events—like Fed Chair Powell’s speech and the September 17 FOMC meeting—could impact them.
2. Trying to time the market is risky; buyers ready to purchase should consider locking in their rates now.
3. A 20% down payment is not required—affordable mortgage insurance and FHA programs offer alternatives for qualified buyers.
4. Waiting to save more can backfire, as rising home prices may outpace savings and reduce affordability.
5. Focus on affordability today, not outdated rules—buy when you're financially ready, not when you hit an arbitrary savings goal.
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