Posted 11/9/2023, 10:16:29 PM
Fed Chief Cautions Patience on Rates Despite Brief Respite in Inflation; IRS Boosts 2024 Tax Brackets; Mortgage Rates Tick Down But Housing Supply Still Tight
- Fed Chair Jerome Powell said monetary policy is restrictive but cautioned against reacting to just a couple months of good inflation data.
- The IRS released new tax brackets for 2024, raising income thresholds for each bracket.
- Mortgage rates dropped for the second straight week, with the 30-year fixed rate falling a quarter percent.
- Supply issues remain for homebuyers even as rates fall.
- Declining mortgage rates could lead to more competition among buyers.