Yesterday, the Federal Reserve announced a 0.25% rate cut , aiming to ease borrowing conditions and support economic growth. But if you were expecting mortgage rates to drop right along with it, you might’ve been surprised because mortgage rates actually went up. Confused? Let’s break down what’s really happening behind the headlines. 👇 💡 The Real Reason: Mortgage Rates Follow Bonds — Not the Fed Directly While the Fed’s benchmark rate affects short-term lending (l

Buying a home is one of the biggest financial decisions you’ll ever make—so understanding your closing costs is just as important as knowing your monthly payment. Here’s a real-world look at what $22,210 in closing costs looks like on a $697,500 property in Nassau County, with an interest rate of 6.875%  and a monthly principal & interest (P&I) of $3,665 . 📊 The Breakdown: Let’s take a look at where your money goes at the closing table