If you're waiting for the Fed to rescue mortgage rates, pay attention.
The Fed minutes released today show that MOST officials believe another rate hike will likely be appropriate before the end of the year.
They just don't know when.
Even more surprising, several officials believe rates are either NOT restrictive or only mildly restrictive right now.
Inflation is still the problem.
So if someone keeps telling you rate cuts and dramatically lower mortgage rates are right around the corner, ask them if they actually read the Fed minutes.
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Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate #FederalReserve #MortgageRates #Inflation #HousingMarket #Economy