On Wednesday the Federal Reserve cut the federal funds rate by one-quarter point which was expected. However, the announcement did not directly impact mortgage interest rates at all. The other economic data that was released during the week was mixed and mortgage interest rates ended the week slightly lower than last week.
Next week the following economic events will occur and economic data will be released which could impact mortgage interest rates:
- The New Home Sales report will be released on Wednesday;
- The Pending Home Sales report will come out on Thursday; and
- The Durable Orders report will be released on Friday.