Today's Mortgage Rates, November 10, 2024 | Mortgage Rates Are Slow to Come Down
These are today's mortgage and refinance rates. Mortgage rates have remained elevated in spite of recent Fed cuts. But they may drop next year.
Fed Cut Interest Rates, So Why Do Mortgage Rates Keep Climbing?
Though the Federal Reserve has been cutting interest rates, mortgage rates have been increasing or holding steady. When will potential homeowners see mortgage relief.
Today’s 30-year mortgage interest rates rise to 6.99% while 15-year terms climb to 6.13%
The median interest rate on a 30-year fixed-rate mortgage is 6.99% as of November 7, which is 0.11 percentage points higher than yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 6.13%, which is 0.13 percentage points higher than yesterday.
What the Fed rate cut means for mortgage interest rates
Mortgage rates, in particular, surged last year to their highest level since 2000 but have since come down alongside inflation. But it's been a bumpy ride back to the bottom in recent weeks. What, then, does this latest Fed rate cut mean for mortgage interest rates? That's what we'll break down below.
If the Fed Is Cutting Rates, Why Are Mortgage Rates Rising?
The latest rise, to 6.79% for a 30-year mortgage, reflects bond market concern about President-elect Trump’s agenda. It extends an uptick in mortgage rates despite expected Federal Reserve rate cuts.
Today’s 30-year mortgage interest rates drop to 6.88% while 15-year terms fall to 6.00%
The median interest rate on a 30-year fixed-rate mortgage is 6.88% as of November 8, which is 0.11 percentage points lower than yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 6.00%, which is 0.13 percentage points lower than yesterday.
Will mortgage interest rates fall this November?
Many experts expect the Federal Reserve to cut the federal funds rate at its early November meeting. The CME FedWatch Tool indicates a 98.4% probability that the Fed will lower the rate by 0.25%, or 25 basis points.
Federal Reserve cuts interest rates again amid uncertain economic outlook
The Federal Reserve lowered interest rates on Thursday by a quarter of a percentage point, its second consecutive rate cut this year, as inflation continues to cool.
Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertainty
The Federal Reserve cut its key interest rate by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s
Fed Cuts Rates Again, This Time by a Quarter Point
Officials face new questions over what might lead to a slower pace of rate cuts after Trump’s election ignited market ebullience and sent long-term rates higher.
Your Money Matters: Key Points About Federal Reserve Interest Rate Cuts
In this week's Your Money Matters, Dave Davis shares some key points about the Federal Reserve's decision to cut interest rates.
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