Posted To: Mortgage Rate WatchMortgage rates improved in a somewhat noticeable way for the first time in weeks following today’s policy announcement from the Fed. Actually, to be fair and accurate, rates didn’t improve until Fed Chair Powell answered a question about inflation during his press conference, saying the Fed doesn’t see inflation “surprising to the upside.” That’s a fancy way of saying they don’t expect inflation to rise any faster than forecasts suggest. Inflation is critical to the Fed’s decision-making process–especially because we’re currently at an important crossroads. For the first time since before the financial crisis, core inflation stands a chance to make a sustained move up and over the 2% barrier. 2% is generally the line in the sand, above which the Fed is more apt to think about tightening monetary…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631