Mortgage Rates Update: Trending Downward for 3 Weeks
Mortgage rates ended this week slightly better than last, marking three consecutive weeks of a downward trend. Here’s a quick look at key points:
PCE Inflation Higher Than Expected: The PCE (Fed’s preferred inflation measure) ticked up, but markets didn’t react negatively, keeping rates stable.
Fed Chair Jerome Powell's Stance: Powell confirmed the Fed is in no rush to cut rates, waiting for inflation to move closer to 2.0% before any decisions are made.
FOMC's Outlook: Some FOMC members see a possible rate cut as early as July to boost the economy, but with consumer spending slowing down, a cut seems unlikely until September.
Kyle's Opinion: Based on recent data and Fed statements, he doesn't expect a rate cut in July. A larger cut of 0.50% could come in September instead.
Click Learn More and watch the full video with the details of the interest rate movement as of last week.
