How Will Interest Rate Cuts Impact the Ag Market?
“If you find a piece of farmland near you that you really like, buy it. The interest rates have come down a bit, don’t stop doing business right now because of where those rates are. If they continue to go down another point or so, refinance it later,” stated CEO of National Land Realty Ronnie Richardson earlier this week during an interview with RFD-TV.
Richardson spoke to the overall impact that recent interest rate cuts by the Fed may have on the ag industry as a whole, touching on their effects on short-term loans and potential relief borrowers may see in the coming months. He also expounded on the recent farm income forecast published by the USDA in September and what farmers can expect from an income perspective as we move into 2025.
Learn more about the current state of the ag land industry in this recent episode of the National Land Podcast featuring Chief Economist for Farmer Mac, Jackson Takach!