Ricardo Pacheco

US 30-yr mortgage rates reached the high-6% range in Late-Q3, while the 10-yr Treasury yield hit a 20-mo high as bond volatility persisted.
A central bank official said on September 1 that if inflation failed to trend lower, policymakers should act decisively and raise rates.
A rate-tracking tool put the odds of a quarter-point hike at ~68%, signaling markets increasingly expected tighter short-term policy in the United States.
A Late-Q3 policy hike would not directly set mortgage rates, but it would signal inflation remained a broader economic concern for the central bank.
An economist said buyers should not expect near-term mortgage relief, but faster inflation control could improve purchasing power and market conditions over the 6-12 mo.

Mortgage Rates Could Reach 7% This Fall

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