Mortgage rates didn't move much in July, although we did see a slight increase early on after watching rates improve a bit at the end of June.
Although there was a lot of talk of tariffs and trade wars, they had little effect on mortgage rates.
The Fed met at the end of July, and left its policy rate unchanged. Fed Chair Jerome Powell made it clear in his press conference that although the Fed's actions do play a role in mortgage rates, it is a smaller role than most people believe.
Mortgage rates in August are expected to stay close to what we saw in July, with the possibility of improving a bit if expectations increase for a Fed rate cut in September.
If you're interested in learning more about rates, whether to buy a home or possibly refinance, just let me know.
