11/08/2024
Happy Friday! 🥰🥰🥰
As expected, the FED cut its short term Fed Funds Rate by 25 bps yesterday. Noted comments were that economic activity continues to expand, labor market conditions have eased, and inflation has made progress toward their 2% objective.
Chairman Powell also mentioned that further rate policy will be based on incoming data.
Next week we have the next set of incoming data: CPI, PPI, and Retail Sales. Key reports that have the ability to move the market. s
As of today, expect national average rates to be around:
6.92% conventional 30 yr
6.37% conventional 15 yr
6.30% FHA
6.30% VA
Have a great day, and let me know if you need anything over the weekend - I’ll be available.
Team HoGlin Guild Mortgage
Alycia 360-223-1443