Interest Rates Are Near 0%, How Does This Affect Mortgages?

How are mortgages affected by the Federal Reserve cutting its target interest rate to next to nothing?

The Sunday announcement by the Fed brings the federal funds rate to between 0% and 0.25% and was designed to stimulate the economy by making it more affordable for everyday people to borrow money for buying a first home, refinancing to lower your current mortgage rate or taking out a home equity line of credit, among other things.

“The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals,” said the Board of Governors of the Federal Reserve System’s Federal Open Market Committee in a written public statement. “This action will help support economic activity, strong labor market conditions, and inflation returning to the Committee’s symmetric 2 percent objective.”

Visit our real estate center and call our mortgage loan officers at (301) 933-9100 ext. 104 to get your questions answered about how the recent drop in interest rates benefit you and your mortgage rates.

The Capitol Hill branch and ATM is temporarily closed.

President's Day

All branches and the call center will be closed on Monday, February 21, 2022 in observance of Presidents’ Day.

Digital Member Support will close at 4 PM on Friday, September 30th. Online banking and ATMs are available 24/7. Our apologies for any inconvenience. 

Closure Notice

Due to inclement weather all Signal Financial branches are closed today. ATMs, mobile and online banking services are fully operational 24 hours a day and 7 days a week.

Digital Member support will close at 12 PM on Saturday, October 1st. Online banking and ATMs are available 24/7. Our apologies for any inconvenience.

Labor Day Closure

All branches and the call center will be closed on Monday, September 5, 2022 in observance of Labor Day.

Independence Day Closure

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Juneteenth Closure

All branches and the call center will be closed on Monday, June 20 in observance of Juneteenth.

Memorial Day Closure

All branches and the call center will be closed on Monday, May 30, 2022 in observance of Memorial Day.

Presidents’ Day Closure

All branches and the call center will be closed on Monday, February 21, 2022 in observance of Presidents’ Day.

New Years Day Closure

All branches and the call center will be closed on Friday, December 31 and Saturday, January 1 in observance of New Year's Day.

The Capitol Hill, City Center and Leisure World branches will be closed on Thursday, December 30th, 2021. We apologize for any inconvenience. Have a safe Holiday!

Christmas Holiday Closures

All branches and the call center will be closed on Tuesday, October 4, 2022 and Tuesday, October 4, 2022 in observance of the Christmas holiday.

Thanksgiving Holiday Closures

All branches and the call center will be closed on Thursday, November 24, 2022 and Friday, November 25, 2022 in observance of the Thanksgiving holiday.

Veterans Day Holiday Closure

All branches and the call center will be closed on Friday, November 11, 2022 in observance of the Veterans Day holiday.