Fed signals lowering rates, mortgage interest rates drop June 20, 2019

When the Fed last met, economic data was looking good. Now, not so much. Manufacturing is probably in recession, inflation is weakening, the yield curve is inverted, the dollar is strong, and trade concerns are elevated. However, equities are near records, unemployment is ridiculously low, and household spending is good. Given the mix, the Fed’s decision to not change rates but signal a willingness to lower rates is spot on.? This sentiment is cause for mortgage interest rates to drop in the future.? Good news for home shoppers!