Good news for homebuyers. The Federal Reserve is going to be dropping rates once again. Federal Reserve Chair, Jerome Powell, stated that the Fed would act “as appropriate” in order to maintain the current economic expansion. As we near 2020, it is predicted the Fed will continue dropping rates to keep up with the longest economic expansion in U.S. history.
A recent article from Housing Wire reported that “At the end of August, President Donald Trump called on the Federal Reserve to reduce the federal funds rate by 100 basis points, saying it is purposefully keeping the economy low for the 2020 election.”