The housing market, dogged in recent years by high prices and interest rates, is expected to get good news on the rate front soon. The Federal Reserve is widely expected to lower interest rates at its next meeting on September 17 and September 18. The federal funds rate currently stands at a 5.25% to 5.50% range, and there are expectations that the Fed will reduce the rate by 25 basis points.
Inflation ticked up 0.2% in July on a seasonally adjusted annual basis but remains below 3% — another positive development for homebuyers. The inflation numbers, combined with other economic indicators, have led many economists and rate watchers to believe the Fed will lower rates at the September meeting.
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source: https://www.cbsnews.com/moneywatch/
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