Fed Chair Powell sounded very dovish about September 18th rate cuts.
“The time has come for policy to adjust. The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”
Powell also said, that inflation has declined significantly and his confidence has grown that inflation is on path to 2%.
New Home Sales
New Home Sales, which measures signed contracts on new homes, rose 10.6%. This was a blowout from the estimated 1% rise.
If you or someone you know is looking to buy or refinance, tell them to get their ducks in a row.
Call us 1-800-424-9293 or email jkammer@cfmtg.com
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