09/18/2024
The Fed just cut interest rates by 50 basis points.
What does that mean for mortgage rates?
Current rates are at an 18-month low. The Fed does not directly set mortgage rates, but they generally follow the same trajectory. Rates could drop more if the Fed indicates more rate cuts to come but based on projections of rates for the fourth quarter, they are expecting them to roughly stay around the same as today.
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