What Might a Fed Rate Cut do For Mortgage Rates?

What Matters in Wednesday's Fed Announcement? The ongoing disagreement in the market regarding the size of Wednesday's Fed rate cut makes it a very interesting Fed meeting.  That said, the size of the cut at this meeting probably has less to do with the market reaction than the dot plot landscape (i.e. the changes in each Fed member's rate outlook as communicated in the Summary of Economic Projections).  Powell's 2:30pm press conference will also add clarity.  As always "volatility" does not have a directional connotation.   Things could go either way, and may do so several times before finally picking a side.