White Ash Realty

Mortgage rates are likely to start the week relatively unchanged but have the potential to move lower after the Fed meeting and Fed Chair Powell's press conference on Wednesday. Expect volatility after the meeting and into Thursday.

What's affecting rates this week:

- The Fed: The Fed will be cutting rates at this week's meeting, with markets now anticipating that cut to be a half point rather than the previously expected quarter point, after an article last week in the Wall St Journal. While mortgage rates are not set by the Fed, they will react to the Fed rate cut as well as the quarterly projections of Fed members on where the policy rate will be in the future.

- Fed press conference: Expect more market reactions to Fed Powell's press conference, which will affect mortgage rates this week.