Mortgage rates could drop a little over the next few days, as central bankers at the Federal Reserve ultimately decided to hold overnight borrowing rates steady at their meeting ending July 29. Mortgage rates jumped in the days leading up to the meeting, as speculation grew among futures traders that central bankers could vote to raise the federal funds rate.
Had there been more consensus among economists that the Fed would leave rates unchanged, mortgage rates might not have spiked as much as they did over the past week.
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