Mortgage Predictions: How Will the Fed Respond to Today's Inflation Data? [CNET News]
First American Corporation (New) (FAF)
Last first american corporation (new) earnings: 4/23 06:45 am
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Source: CNET News
Two data points are key for the Fed to cut interest rates by 0.25% next week at its final policy meeting of the year: slowing inflation and a weakening labor market. While today's Consumer Price Index report shows inflation rose in November, it was in line with investor expectations. Last week's employment data showed a strong job market, but not overly so. Another rate cut doesn't mean mortgage rates will immediately move lower . The central bank has cut interest rates twice already this year, and mortgage rates went up, not down, due to a continuation of strong economic data. Though influenced by the Fed's actions, home loan rates are more closely tied to movement in the bond market. Mortgage rates could still fall if economic data weakens and the Fed continues cutting interest rates. But that's a big "if." Lately, progress has stalled on getting inflation down to the Fed's 2% annual target. Meanwhile, the labor market isn't showing any major fault lines. While the Fed wants
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