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The Fed’s hold gives loan officers a short window to reset borrower expectations before the next inflation-and-jobs test.
The Fed rate pause landed Wednesday, with the Federal Reserve holding its benchmark rate ahead of the midterm elections, according to HousingWire’s Oct. 28 report. The report said markets are still betting on a possible December rate hike, even as the latest economic signals are pulling in different directions.
For mortgage professionals, the pause matters because borrowers often hear “Fed held rates” and assume mortgage pricing should immediately improve. That is not how the rate sheet works, especially when hotter September inflation is competing with softer job growth in the same market narrative.