How far will mortgage interest rates fall in November? [CBS News]
TrustCo Bank Corp NY (TRST)
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Source: CBS News
This made it difficult to find affordable home loans — and virtually eliminated any interest homeowners had in mortgage refinancing , at least for those who'd borrowed during the period in which rates were in the 3% to 4% range. However, new inflation data from late 2024 finally showed inflation was cooling. For would-be homebuyers who'd struggled to find mortgage loans at rates below 7% , this news offered renewed hope that getting a lower-cost home loan could still be an option Would-be homeowners and those hoping to refinance their mortgage got their wish. Average rates dropped more than a point leading into the Fed's September meeting in anticipation of expected rate cuts. And, the Fed delivered, dropping rates by 50 basis points. Sadly, though, this didn't cause borrowing costs to decline in October. Rates actually bounced back instead. While this frustrated potential buyers, some experts say you shouldn't wait for mortgage rates to fall as a rate drop will increase demand
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News
- TrustCo Continues Uninterrupted Century-Long Streak of Dividend Payments – Declares $0.36 Per ShareGlobeNewswire
- Will home equity loan interest rates fall in November? [CBS News]CBS News
- TrustCo Bank GAAP EPS of $0.68, revenue of $43.6M [Seeking Alpha]Seeking Alpha
- Trustco Reports Third Quarter 2024 Net Income of $12.9 Million; Skillful Application of Strong Fundamentals Produce Solid ResultsGlobeNewswire
- TrustCo to Release Third Quarter 2024 Results on October 21, 2024; Conference Call on October 22, 2024GlobeNewswire
TRST
Earnings
- 7/22/24 - Beat
TRST
Sec Filings
- 11/19/24 - Form 8-K
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- TRST's page on the SEC website