For the week of August 15th to August 21st, mortgage rates edged slightly higher.
With the 30-year fixed rate rising from to 6.74% on a 30 year fixed conforming loan, contributing to a 1.4 % dip in mortgage applications, the August 20 FOMC minutes reinforced that most FED official still see inflation risks as outweighing labor concerns, signaling reluctance to cut rates further.
Rate Market Update
30-YR. Conforming
6.74%
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September 17 FOMC Meeting (FED Meeting Watch)
Predictions:
NONE – Predicted an increase in interest rates
24.7% Predicted rates will remain the same
75.3% Predicted a decrease in interest rates
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