03/24/2025
๐๐ผ๐ฟ ๐๐ต๐ฒ ๐ช๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐ ๐ฎ๐ฟ๐ฐ๐ต ๐ฎ๐ฐ, ๐ฎ๐ฌ๐ฎ๐ฑ
๐๐ฎ๐๐ ๐ช๐ฒ๐ฒ๐ธ'๐ ๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ: ๐ฆ๐น๐ถ๐ด๐ต๐ ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ๐บ๐ฒ๐ป๐ ๐
Mortgage rates did improve last week, although not by much. Rates started the week off a bit worse, but improved following the Fed meeting and Fed Chair Powell's press conference. The Fed kept its policy rate unchanged, but a majority of Fed members still forecast two policy rate cuts this year. Mortgage rates were helped by the Fed's outlook that the economy could be weaker this year than previously thought. A weak economy helps keep rates low or move them lower.
๐ง๐ต๐ถ๐ ๐ช๐ฒ๐ฒ๐ธ'๐ ๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐ฅ๐ฎ๐๐ฒ๐ ๐ฐ๐ผ๐๐น๐ฑ ๐บ๐ผ๐๐ฒ ๐ต๐ถ๐ด๐ต๐ฒ๐ฟ ๐
After improving last week, we could see mortgage rates creep higher this week as concerns ease over tariffs taking effect in April. The Fed's favored gauge of inflation, the PCE price index, comes out on Friday and could help rates end the week. It is not likely weโll see rates improve much, if at all, this week.
๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:
- Economic data: Fourth quarter GDP data comes out Thursday, but it's Friday's PCE price index inflation data that will have the biggest influence over mortgage rates this week.
- Tariffs: Markets are optimistic that President Trump's tariffs taking effect April 2nd will be more targeted and less of a drag on the economy.