Mortgage rates post Fed meeting

At their September meeting the Fed decided not to raise the federal funds rate.  3-6 months ago many believed it was almost a certainty that they would raise the the federal funds rate however the global economy has slowed, China has faltered and it appears the US economy is weakening.  Mortgage rates did not move dramatically lower post meeting however they did retreat back to where they were a few weeks prior to the meeting.  Mortgage rates have been in a sideways trend for several months now.  Overall most mortgage lenders are offering high 3 to low 4 percent 30 year fixed mortgage rates.  As for a 15 year fixed mortgage; most lenders are in the low to mid 3 percent range.  Mortgage rates could continue this stable trend for the next few months as the world awaits what the Fed will do next.  Stable mortgage rates is a welcome trend….earlier this year we saw a period of volatility that caused lenders to raise rates.