The average rate on 30-year fixed home loans registered 6.74% for the week ending July 24, down just barely from 6.75% last week.

Some Fed watchers are looking at the September FOMC meeting for the next rate cut, pending the outcome of tariff inflation and the unemployment rate. A 12-0 vote to hold interest rates steady would be a powerful signal of a strong conviction among the members of the FOMC.

The Federal Open Market Committee will meet on Tuesday and Wednesday before announcing the federal-funds rate target range, which has sat at 4.25% to 4.5% since December. The decision will go public at 2 p.m. Eastern time on Wednesday, and Fed Chair Jerome Powell will address the media at 2:30 p.m.

President Donald Trump visited the Federal Reserve on Thursday, repeating calls for lower interest rates while standing alongside Fed Chair Jerome Powell. Even after reiterating his frustration with the central bank, Trump called the notion of firing Powell a "big move" that would not be "necessary."

Aside from interest rates, the president and Powell are also not on the same page about the Federal Reserve renovation costs and inflation.

President Trump said he sees Federal Reserve Chair Jerome Powell recommending that the central bank lower interest rates after meeting with him Thursday. "I think we had a very good meeting on interest rates.

Mitch Roschelle, financial analyst and CEO of M2 Communities, joins "On Balance" following President Trump's visit to the Federal Reserve.

Commerce Secretary Howard Lutnick discusses how President Donald Trump and Federal Reserve Chair Jerome Powell’s sparred over renovation costs for the ‘Fed Mahal’ on ‘The Ingraham Angle.’