In 2019 the Federal Reserve, The United States central bank, has cut interest rates by 50 basis points or 0.5 percent. Now there is a significant amount that goes into making these decisions but we are more interested on the effects to the consumer market. In the simplest form lower interests means a lower cost of borrowing. This means your interest on mortgage payments will decrease as interest rates decrease. While half a percent might not seem like a lot but if you multiply that by the median home price of Stafford, VA which is $346,000 (Zillow) that can add up to thousands of dollars in savings. These rate cuts as it is called has allowed tens of thousands of potential buyer to be qualified to buy a home. Home prices continue to rise but providing lower interest rates to qualified buyers can help ease affordability concerns. This is especially important to the Stafford, Fredericksburg, and Spotys area as there are many approved subdivisions waiting for a homeowner. As the old saying goes "it is not what you make it is what you keep" and paying less in interest payments will definitely aid you in keeping more.