Poll results: Interest in interest rates

On Sept. 18, the Federal Reserve issued a statement that included this:

"In light of the progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/2 percentage point to 4-3/4 to 5 percent."

Federal Reserve Chairman Jerome Powell explained: "This decision reflects our growing confidence that, with an appropriate recalibration of our policy stance, strength in the labor market can be maintained in a context of moderate growth and inflation moving sustainably down to 2 percent."

The impact on mortgage rates was swift. The 30-day fixed averaged 6.09 percent last week, down from 6.20 percent in the previous week, and way down from a high of 7.79 percent in the fall of 2023.

The industry is watching closely. How closely? Here are the results of HBSDealer’s latest poll question.

Click here to add your vote to the poll.

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