After dropping significantly during the first two weeks of August, mortgage rates have plateaued ahead of a key economic announcement on Friday.

That’s when Federal Reserve Chair Jerome Powell is set to speak at the annual Jackson Hole Economic Symposium in Wyoming. Powell is expected to deliver an update on U.S. monetary policy to central bankers, economists and other financial market experts in attendance.

“Powell is widely expected to lay the groundwork for the first Fed funds rate cut in September,“ HousingWire Lead Analyst Logan Mohtashami wrote on Saturday. “We must remember that even if the Fed had cut rates details ⇒

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