Fed Reserve – No Rate Cuts Planned

On May 1, 2024 Federal Reserve officials judged that inflation had not cooled enough to reduce key interest rates. “… expectations for the timing of the first rate cut – which had been concentrated around June in the March surveys – shifted out significantly and became more diffuse.” “Participants observed that while inflation had eased over the past year, in recent months there had been a lack of further progress toward the Committee’s 2 percent objective.”

It appears that mortgage rates won’t change much this year unless something dramatic happens to change the economic health of the U.S.

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