Waller is a respected Fed Governor, a current voting member, and even considered a top candidate for the next Fed Chair.

His recent comments point to softening inflation, questionable BLS jobs data, and, echoing my biggest frustration, the need to move away from an overly restrictive policy stance.

He also noted that the Fed is currently 1.25% to 1.5% above the neutral rate signaling that monetary policy remains overly restrictive. A return to neutral would bring the Fed Funds rate down to around 3%, which typically translates to mortgage rates about 1.5% higher.

Housing news:

Builder sentiment, while still below average, ticked up to 33 remaining under the neutral level of 50. Housing permits held steady, but overall inventory remains tight, continuing to put pressure on supply.

That’s all for this week. Any open houses or questions, feel free to reach out anytime. 800-424-9293 http://www.YourApplicationOnline.com