The Fed’s quarter-point rate cut is already shaping Tampa Bay’s housing market, consumer spending and local business activity. Many residents want to know if lower rates will bring relief from high borrowing costs.
To break down the Tampa Bay economic impact rate cut, TBBW spoke with Dave Germann, chief lending officer at Achieva Credit Union, about what this shift means for buyers, borrowers and savers.
More buying power for homebuyers
Germann says the cut could immediately help first-time homebuyers who have been priced out of the market.
“A house that may have been a little out of reach may not be out of their reach right now,” he says…