It’s FED Day! [Live Post]

It’s the day we’ve been waiting for! Okay, maybe you haven’t been anxiously looking forward to the wrap up of the FOMC’s two-day meeting and learning if they are going to adjust the Fed Funds rate. You must have more exciting things to do! 🤓

It is widely expected that there will be no change to the Fed funds rate during today’s announcement at 11:00 PST. As I write this post (8:11 am), mortgage-backed securities (what mortgage rates are based on) are up about 13 basis points and the Dow Jones is up 221 at 42,436. Markets will be waiting for the Fed’s statement along with the Summary of Economic Projections, which will reveal their forecast for inflation, the unemployment rate and other economic data. This will be followed by Jerome Powell’s press conference, which markets will be watching closely to learn the Fed’s view on the economy and if they feel it’s slowing.

Stay tuned! This is a live post that I will be updating throughout the day.

11:00 AM PST: As expected, the Fed left the Funds Rate unchanged. The Dow is up 130 at 42,346 and MBS are up 11 basis points from the start of the day. Up next, is the press conference at 11:30 PST.

11:37 AM PST: The Fed projects 2 rates cuts this year. “Uncertainty is unusually elevated”. Powell states “Everyone I know is forecasting a meaningful increase in inflation in coming months from tariffs, because someone has to pay for tariffs”.

12:12 PM PST: Dow is the red – down 28.62 to 42,187.18. MBS (mortgage-backed securities) is losing ground and is now up 2 basis points from the start of the day. Powell feels that the labor market is pretty stable unless you’re looking for a job as job creation is lacking and we’re not seeing a lot of layoffs.  Powell wrapped up the conference at 12:22 pm.

 

Mortgage Rate Update for the Week of January 16, 2025

We have the results of the Fed meeting on Wednesday with next to zero chance of a rate change. Check out what may impact the direction of mortgage rates and learn which saves more, a price reduction or a seller credit to buy down interest rates on this week’s episode.

If you’re thinking about buying, selling, refinancing, remodeling or even a reverse mortgage, let’s talk!

Mortgage Rate Update for the Week of June 9, 2025

Mortgage rates have been in a tight range since the start of the trade war. Will the Fed’s meeting coming up in just over a week have any impact on mortgage rates? Plus, we talk about conditions to loan approvals and why it’s important to get pre-underwritten when you’re getting preapproved to buy a home.

Check out my latest video to learn more.

 

Help for Seniors Being Priced Out of their Homes

I was in a neighborhood group on Facebook where someone was sharing that they were having to sell their home that had been in the family for generations. They can no longer afford living in the Seattle area and had made the difficult decision to move their family. If you’re 62 or better, you may not have to sell your home to create a more affordable lifestyle. [Read more…]

Mortgage Rate Update for the Week of June 2, 2025

It’s the first week of June and that means we have the Jobs Report being unleashed on Friday along with other employment data this week. Check out my weekly Mortgage Rate Update to learn how this and what else may impact mortgage interest rates this week.

 

Here to help you on the weekends!

Today I met with clients “virtually” via Zoom from the comforts of their home for a mortgage consultation. They’re getting ready to tour homes later today with their real estate agent and wanted to be prepared for what their options are in the event they find their next home. We discussed their preapproval and different strategies for homes they’re considering. [Read more…]

Mortgage Rate Update for the Week of May 26, 2025

Fannie Mae’s Upbeat Mortgage Rate Forecast with Rates in the 5s!

Fannie Mae recently released their monthly forecast for housing. May’s forecast predicts 30 year fixed conforming mortgage rates with rates entering the 5% range in the second quarter of 2026.

While hearing that the 30-year fixed rate might hit the 5% range next year is music to many ears, there are some things I would keep in mind. For starters, the rates are NOT guaranteed – it’s just a forecast… although I’d rather see a forecast with mortgage interest rates trending lower instead of rates pushing higher. 😉 [Read more…]