Yes! Mortgage Rates Really Did Move HIGHER After The Fed Rate CutBy: Matthew Graham2 Hours, 57 Min agoWe publish daily coverage of mortgage rate movement and have done so for nearly 20 years.
Mortgage Rates Fall to 2 Week Lows After Chairman Powell's Message
Dated: August 24 2024
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Mortgage Rates Fall to 2 Week Lows After Chairman Powell's Message at Jackson Hole
Federal Reserve Chairman Jerome Powell recently indicated that the central bank is preparing to cut interest rates after a period of sustained restrictive monetary policy. In his speech at the Jackson Hole Symposium in Wyoming, Powell stated that "the time has come for policy to adjust" due to easing inflation and a cooling labor market. He emphasized that the timing and pace of the rate cuts will depend on incoming data and the evolving economic outlook.
Powell's remarks suggest that the Federal Reserve is shifting towards a more accommodative monetary policy, which could lead to lower mortgage rates in the near future. As a result, many are expecting the Federal Open Market Committee (FOMC) to begin lowering rates as early as their next meeting in September. This potential rate cut is anticipated to provide relief for consumers, particularly in the housing market, where mortgage rates have been hovering around the mid-6% range.
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In 2011, I began my real estate career in the western suburbs of Boston after having worked for many years in public accounting in the Boston area. I believe that honesty and integrity create long....
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