Mortgage rates declined this week, but remain elevated, Freddie Mac reported. But the direction of mortgage rates remains uncertain ahead of the Fed’s next meeting, where the central bank could raise interest rates again.
"Job growth is weakening, and wage growth is holding steady, but both are still above the pace that would be consistent with the Federal Reserve’s inflation target," Joel Kan, the Mortgage Bankers Association's vice president and deputy chief economist, said in a statement.
Fed Chairman Jerome Powell has maintained the central bank won’t ease up its monetary policy until it’s convinced it’s within reach of meeting its goals. said in a July press conference
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