FOMC Meeting Minutes
One of this week’s two events that may influence mortgage rates comes tomorrow afternoon. This is when the minutes from this month's FOMC meeting are released at 2:00 PM ET. They will give details and discussions on the Fed’s decision to make its third quarter-point rate cut this year. The minutes may also help form predictions about what the Fed may do in the future based on their concerns regarding inflation and employment strength. It is one of those reports that may cause volatility in the markets or be a non-factor, depending on what they show. However, the last FOMC meeting was followed by revised Fed predictions and dot plot, so the possibility of seeing something unexpected is somewhat minimal. The mid-afternoon release means if there is a reaction, it won’t come until later in the day.