CMI Canadian Mortgages Inc’s Post

The Fed cut rates by 50 basis points at its September meeting – a more aggressive move than some anticipated. What does the Fed’s policy statement reveal about the expected pace of rate cuts in the balance of the year and beyond? And key for the mortgage, can we expect an easing in bond yields? We explore this and more in this week’s Market Monitor. Read it here: https://ow.ly/jeRV50TEo95

The Fed cut rates by 50 basis points at its September meeting – a more aggressive move than some anticipated. What does the Fed’s policy statement reveal about the expected pace of rate cuts in the balance of the year and beyond? And key for the mortgage, can we expect an easing in bond yields? We explore this and more in this week’s Market Monitor. Read it here https://ow.ly/HPhr50TtPBO

The Fed cut rates by 50 basis points at its September meeting – a more aggressive move than some anticipated. What does the Fed’s policy statement reveal about the expected pace of rate cuts in the balance of the year and beyond? And key for the mortgage, can we expect an easing in bond yields? We explore this and more in this week’s Market Monitor. Read it here: https://ow.ly/7zh450TEo96

Things should start to heat up tomorrow as we have our first economic report of consequence, the S&P Global PMI, a Treasury auction. Still may not be enough to move the needle as most traders are really looking towards next Weeks' Fed Meeting/Policy Statement and Fed Chair Press Conference on Tuesday/Wednesday. Mortgage Rates barely moved from their Friday levels, down 0.01% per Mortgage News Daily.

No, interest rates did NOT significantly drop today! The Fed's rate cut had been anticipated and priced into the market months ago, as savvy investors tend to foresee these announcements well in advance. This is why we've seen interest rates decline significantly over the past few weeks, settling around or below 6% for a 30-year fixed mortgage. As the chart shows, mortgage bonds—which directly influence interest rates—are actually lower today, meaning that interest rates are worse than they were yesterday. Remember: BONDS DOWN = RATES UP (and vice versa). Will rates continue to drop? That’s the million-dollar question. But overall, this is still a positive sign.

Here's another Fed update: We could see rates cuts as soon as September. The Board is encouraged and hopes to see more good data before making the move. While the Fed didn't cut policy rates at their July meeting, mortgage rates can fall in advance of Fed action. If you're waiting to buy, rising prices may offset the lower rates you could get later. Let's talk to see what might be right for your scenario! #FedUpdate #GraniteMortgage #GraniteBank

Here's another Fed update: We could see rates cuts as soon as September. The Board is encouraged and hopes to see more good data before making the move. While the Fed didn't cut policy rates at their July meeting, mortgage rates can fall in advance of Fed action. If you're waiting to buy, rising prices may offset the lower rates you could get later. Let's talk to see what might be right for your scenario.

🌈Did you hear about the Fed Rate Cuts? At their September meeting, the Board voted to slash policy rates by 0.50% and projected more cuts to come this year. The Fed doesn't control mortgage rates directly, but rates had already fallen in anticipation. There may be advantages to making your move now rather than waiting on rates to fall again. If you want to discuss good timing for your situation, please contact me!

It's a foregone conclusion that the Fed will be cutting rates on Wednesday, September 18th. As exciting as that might sound, mortgage rates have already reaped the rewards. If you'd like to understand this with a simple, nuts and bolts example, just consider the numerous occasions where mortgage rates have fallen BEFORE and moved HIGHER AFTER the Fed has cut the Fed Funds Rate. Read on: https://lnkd.in/dzREn4NC Learn more about how this affects you specifically at bit.ly/ChrisDeMatteis

Here's another Fed update: We could see rates cuts as soon as September. The Board is encouraged and hopes to see more good data before making the move. While the Fed didn't cut policy rates at their July meeting, mortgage rates can fall in advance of Fed action. If you're waiting to buy, rising prices may offset the lower rates you could get later. Let's talk to see what might be right for your scenario! #FedUpdate #GraniteMortgage #GraniteBank