"There are no risk-free paths now. It's not incredibly obvious what to do."
"Where mortgage rates are going to go is really dependent on the data that we get in the weeks to follow."
"There's clearly no direction from Powell or from what the Fed has done today that says the rates are just going to march downwards."
The Federal Reserve lowered the federal funds rate by 0.25 percentage point on Sept. 17. Markets and prospective home buyers had anticipated the cut, and mortgage rates had already fallen to near one-year lows before the decision. Mortgage rates are set largely by bond-market movements rather than direct Fed policy changes, and rates briefly rebounded as markets digested accompanying news. Fed Chair Jerome Powell emphasized a tension between achieving maximum employment and maintaining price stability and noted there are no risk-free choices. Mortgage-rate direction now depends on incoming economic data, leaving future movement uncertain.
Read at SFGATE
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