The Federal Open Market Committee stood strong on rates at the conclusion of its June meeting but signaled it was at the ready to help to sustain economic expansion.
As a result, “The Fed” elected to keep the benchmark interest rate within its target range of 2.25% to 2.5%. Although, new economic projections show more Fed officials seeing the case for a rate cut — or two — by the end of 2020.
The “Feds” said it still sees a “sustained expansion of economic activity, strong labor market conditions, and inflation near” the committee’s 2% target”.
It also added that -quote: “uncertainties about this outlook have increased.”
Thus, mortgage rates may be more volatile in the months ahead, which could both provide refinance opportunities for some homeowners, while causing potential home buyers to pause amidst the uncertainty.”