By Michael Abeyta | CBS Colorado
A Colorado real estate broker says Wednesday’s announcement by the Federal Reserve that they are lowering the interest rate by .5 percentage points was somewhat expected and that he was somewhat ready for it.
“I thought the Fed was going to be a little bit more conservative and do a 0.25 percentage cut. However, the 0.5 is where we’re at. So not shock, not surprise,” said Brett Weinstein, the CEO of Guide Real Estate.
That means it costs consumers less in interest to borrow money.