Following Federal Reserve Chairman Jerome Powell’s testimony before the House Financial Services Committee on Wednesday, June 21, Marty Green spoke with the mortgage press to discuss whether additional rate hikes may be on the horizon.

“Chairman Powell made clear today that the pause at this month’s meeting was most likely temporary,” Green said. “Inflation concerns continue to be at the forefront. One benefit in telegraphing a potential increase in rates at future meetings is that it dampens or eliminates the hope of possible decreases in the Fed Funds Rate for the remainder of 2023, which some market participants continued to harbor.”

Green added, “While the Fed may be somewhat patient in assessing incoming data, Chairman Powell made clear the Fed will not be complacent in the inflation fight and is prepared to make one or two further hikes if necessary to get inflation more under control.”

Please see below for Green’s interviews with HousingWire and Scotsman Guide on the topic:

• HousingWire – Mortgage rates decline (again). What does it mean for the summer home-buying season?
• Scotsman Guide – Fed chair appears before House, reiterates more rate hikes likely