By The Cushing Team of Guild Mortgage Company | 6990 S. McCarran Blvd, Suite 200, Reno.

As expected the Federal Reserve has hiked the "Fed funds rate" by 75bps to a target range of 3.75% to 4.00%, which is the highest rate since 2008. The new Fed statement hinted at a change of policy by taking the lag of tightening's impact on economic activity and inflation into account.

This could indicate a pivot in the near future. Home sales continued to cool in September while consumer inflation needs to cool further. Find out more about these stories, along with the latest news on home price appreciation, GDP and Jobless Claims.

The Fed’s favorite measure of inflation, Personal Consumption Expenditures (PCE), showed that headline inflation rose 0.3% in…

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