Hometap's Tom Egan Shares Mortgate Rate Insight With HousingWire

Hometap's Chief Financial Officer, Tom Egan, discusses with HousingWire the rate cut environment and its impact on mortgage rates.

Tom Egan, chief financial officer at home equity investment provider Hometap, said this week that conflicting data points are expected to drive Fed policymakers “to wait for more clarity before acting.” He said that while gross domestic product (GDP) and employment numbers are strong, “volatile equity markets and lukewarm consumer sentiment” along with uncertainty driven by White House policies make it more difficult to project a path toward lower rates.

“With a patient Fed and a growing number of potential speed bumps on the horizon for the rest of the year — geopolitical conflict, a looming debt ceiling battle, volatile administrative directives, and seemingly plateaued inflation — we expect this same narrative to persist until the impacts of recent policy changes are clearer and the data paint a more consistent picture,” Egan told HousingWire via email.

This article originally appeared on HousingWire. Read more of Tom's insights in the full article here.