Real Estate News 07/31/2024

Today’s News Synopsis:

Federal Reserve officials held short-term interest rates steady, but indicated that inflation is getting closer to its 2% target.

In The News:

CNBC – “Fed holds rates steady and notes progress on inflation“ (07-31-24)

“Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to its target, which could open the door for future interest rate cuts.”

Yahoo Finance –  “Fed holds rates steady, Powell says September cut ‘could be on the table’“ (07-31-2024)

“The Federal Reserve held interest rates steady Wednesday but hinted that it is nearer to easing monetary policy as it cited “some further” progress on inflation and Fed Chair Jerome Powell told reporters a September cut “could be on the table.””

HousingWire –  “Mortgage rates stay put ahead of Fed policy announcement” (07-30-24)

“As Federal Reserve policymakers meet this week amid a high likelihood they’ll keep benchmark interest rates unchanged, the recent downward movement in mortgage rates leveled off.”

MPA Mag – “US pending home sales on the up” (07-30-2023)

“The index of contract signings from the National Association of Realtors increased 4.8% to 74.3 in June, reflecting increases in all four major regions, the group said Wednesday. The gain well exceeded the highest estimate in a Bloomberg survey of economists.”