Why Mortgage Rates Haven’t Fallen Since the Fed Cut
The Federal Reserve cut interest rates, then standard 30-year mortgage rates went up. It’s a warning that lower rates from here are not a foregone conclusion.
What could impact mortgage interest rates this fall?
When investors buy more Treasury bonds, their yields typically fall. Lenders often use these Treasury rates as a benchmark for setting mortgage rates. Mortgage rates tend to follow suit when Treasury rates drop due to global events — potentially making borrowing more affordable.
Mortgage rates inch higher
Mortgage rates climbed slightly this week, with the average for both 30- and 15-year fixed-rate notes rising as the housing market remains largely stalled.
Mortgage interest rates today: Rates are up
Today’s interest rate for a 15-year fixed-rate mortgage is 5.38%, which is 0.13 percentage points higher than yesterday. The monthly payment for a $250,000 mortgage with a 15-year term and a fixed interest rate of 4.75% would be $1,944.48. The payment for the same loan with a 5.75% interest rate would be $2,076.03.
You don’t have to refinance your mortgage to cut your interest
You can shave thousands of dollars and years off your home loan if you can swing a bit extra to prepay your principal each month.
Why mortgage rates rose after initially falling
Mortgage rates dropped after the Fed's interest rate cut announcement in September. Although rates appear to have slightly risen since dropping to a record two-year low, experts still believe they will trend down if the U.
Here's what U.S. mortgage rates did this summer
U.S. mortgage rates are expected to continue a decline, leading to a busier housing market to come in 2025. The increase in activity and competition will inevitably drive home prices up.
Don't expect mortgage rates to fall much further this year
While mortgage rates have been mostly on the decline for the last several months, they don’t have much further to fall.
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Nearly half of U.S. homebuyers use this strategy to lower their monthly mortgage payments
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