After hearing the Feds did cut the rate, I reached out to Winfred McCoy Nmls # 231497 of Union Home Mortgage Corp. to get his thoughts. “… the bond market already had the expected Fed reduction calculated in long term/mortgage rates. Obviously, great news that the Fed move came as expected. Good sign as well that we should see these lower rates maintain for the foreseeable future.
This article from ABC News reflects the same thoughts.