What needs to happen to see lower mortgage rates?

No news is good news. Today, Jerome Powell made his announcement. Yes, they are increasing the Fed Fund rate by another quarter, but we learned how we are going to see lower mortgage rates. He wants to see two indicators change: headline inflation and core inflation come down to 2%, and the job market soften. If these two indicators move in the right direction, we’ll see lower mortgage rates sooner than later. Remember, we don’t need the Feds to cut any rates. We just need them to stop hiking to see lower rates.
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