Continuing a pattern of small movements expected as the government shutdown continues, rate saw only a slight downward trend this week. According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday, the average 30-year fixed-rate mortgage (FRM) slid three basis points to 6.27% from last week’s average of 6.30%. “Mortgage rates…
The Federal Reserve’s next Federal Open Market Committee (FOMC), where they decide the direction of monetary policy, will be held Oct. 28 – 29. In the meantime, members of the Federal Reserve are keeping busy with public appearances. At the Invest in America forum hosted by CNBC, Fed Governor Stephen Miran sat down for a…
Despite the uncertainty surrounding the length of the government shutdown and its ongoing effects, Federal Reserve Chair Jerome Powell yesterday highlighted concerns over employment data as all eyes are on the Federal Open Market Committee (FOMC) and a potential interest rate cut ahead of their next meeting Oct. 28-29. In a speech at the National…
Federal Reserve Governor Michael S. Barr warned Thursday that the central bank’s battle against inflation is far from over, with price pressures expected to persist until 2027, as rising tariffs continue to ripple across the economy. Speaking at the Economic Club of Minnesota, Barr said the Federal Reserve continues to face elevated risks on both…
Mortgage rates moved within expected patterns this week, edging down only slightly as the government shutdown reaches its ninth day. Last week, economists said rates were expected to remain within a tight range during the shutdown unless other unexpected developments emerge. According to the latest Primary Mortgage Market Survey® (PMMS®) released by Freddie Mac Thursday,…
At the September Federal Open Market Committee (FOMC), where interest rates were cut by 25 basis points, newly appointed Federal Reserve Governor Stephen Miran dissented and voted for a larger interest rate cut of 50 points. Miran has since called for further rate cuts. Today, at a moderated interview at the Managed Funds Association’s Policy…
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