It’s Rivalry Week! BYU vs. Utah, Kamala vs. Donald, and the Fed vs. inflation. The football game is always a wild one, so despite the current records of both teams, Saturday night will be a nail biter.  The war on inflation is hoped to be under control and the FOMC should cut rates by 0.25% this Thursday.  The election is anyone’s guess; the New York Times said this morning that the polls are the closest they have ever been.

Mortgage pricing may have rebounded off of a floor of support this morning.  They opened strong but have lost steam after only a few hours of trading this morning. One hope though is that with the Fed cutting overnight rates, investors who have had assets parked in shorter-term bonds may begin trading them out for longer duration paper (like mortgages), and that demand would help to lower home borrowing costs.