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The Fed Is Holding... But for How Long?

  • Writer: Michael Belfor
    Michael Belfor
  • 2 days ago
  • 1 min read

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Yesterday’s Fed meeting came and went with no rate change, as expected. But buried in Powell’s remarks was a shift in tone: “We’re not there yet on inflation, but we’re getting closer.”


Translation?

A rate cut is coming — just not yet.


For the mortgage world, that means continued pressure on the 10-Year Treasury, which has been bouncing between 4.15% and 4.30% this week. The market’s trying to price in future cuts, but it won’t fully commit until the data forces the Fed’s hand.


Here’s where it gets interesting:

  • If PCE data this week shows softening inflation

  • And job growth slows in tomorrow’s BLS report

  • Then we could finally see the 10-Year yield break lower


That’s when mortgage rates would follow — not gradually, but quickly. And that’s why we’re positioning clients now.


Buyers don’t need to chase the bottom. They need a plan in place before rates move. If you or your clients are rate-sensitive, let's set a strike point and stay ready. Because when it drops, it’ll happen fast.



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