Eyes on Fed with mortgage rates having barely budged in weeks
Mortgage rates have barely budged in weeks — but that could change as the Federal Reserve is set to meet next week.
“Going forward, the path that rates take will be directly impacted by more information about the omicron variant as it is revealed and the overall trajectory of the pandemic,” said Sam Khater, chief economist at Freddie Mac, in this week’s report. “In the meantime, rates remain low and stable, even as the nation faces declining housing affordability and low inventory.”
The variant isn’t the only factor that’s set to influence interest rates in the near future. The latest edition of the consumer price index will be released Friday, which will provide insight as to the pace of inflation. That could influence central bankers when the Federal Reserve meets next week. That meeting could determine how quickly the Fed tapers its asset-purchasing activities and hikes short-term interest rates.
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