The Financial Post reports in its Friday, Aug. 23, edition that all eyes in the financial markets will be on U.S. Federal Reserve chairman Jerome Powell this Friday during his annual speech in Jackson Hole, Wyo. The Post's Robert McLister writes that it is expected that he will signal a forthcoming cut in U.S. interest rates. If this happens, bond yields are likely to decrease, leading to lower fixed mortgage rates in the U.S. and possibly in Canada as well. Fixed rates have been dropping consistently and this week, Pine Mortgage reduced its advertised three-year uninsured fixed rates to 4.84 per cent. Additionally, leading five-year insured rates dropped to as low as 4.19 per cent. On the variable rate front, there have been no significant changes. Nationally leading offers from Nesto remain at 5.4 per cent (prime minus 1.3 per cent) for insured mortgages. Add at least 45 basis points if your mortgage is uninsured. The next variable-rate drop is expected for Thursday. All eyes in the financial markets will be on U.S. Federal Reserve Chairman Jerome Powell this Friday during his annual speech in Jackson Hole, Wyo. It is expected that he will signal a forthcoming cut in U.S. interest rates.