Speaking to a group in Jackson Hole today, Federal Reserve Chairman Jerome Powell signaled a possible cut in interest rates in the near future. Powell said current economic conditions, including a marked slowdown in job growth, suggest a cut in the Fed's benchmark rate may be warranted. The Fed has three more meetings this year, including next month, in late October, and in December, and it’s not clear whether the Fed will cut at any or all of those meetings. This could positively impact mortgage rates but some analysts indicate that current mortgage rates already have figured in a slight cut in the Fed's benchmark rate. It would mean good news for the housing market if mortgage rates came down since many buyers are struggling with what a payment looks like at 6.6% interest.
Historical Periods of Zero Appreciation in California Real Estate
