These are today's mortgage and refinance rates. Mortgage rates have increased a bit as markets look to whether the Fed will cut rates in December.

The Federal Reserve's rate cuts won't directly lower home prices in 2025. But they could spur a chain reaction that leads to a drop in home prices.

The Fed has two main objectives: maintain maximum employment and contain inflation. Although one single data point is never decisive, when inflation is high, the Fed generally raises interest rates to slow demand. When the unemployment rate is high, the Fed often lowers interest rates to stimulate consumer activity.

Mortgage rates aren’t directly tied to the federal funds rate like savings and CDs. Instead, they’re tied to the 10-year Treasury yield, which is at its highest level in three months.

Mortgage experts agree that the right time to lock in a rate depends on your situation. Making your move later this month could offer some advantages. But your timeline, financial readiness and local housing market should guide your decision. The choice isn't just about getting the lowest rate — you must find the right balance for your needs.

On Nov. 7, the Federal Reserve implemented a 0.25% reduction to the federal funds rate, its second cut in over four years. Prospective homebuyers are eager for a silver lining in the housing market. But experts don't anticipate dramatically lower rates before the end of the year.

Though the Fed was already set to cut rates at least once more before the end of 2024, the modest 0.25% rate cut targeting 4.5%–4.75% indicates that the central bank is proceeding with caution in light of a Donald Trump Administration.

The Federal Reserve is set to issue another rate cut this week. Here's what could then happen to mortgage rates.

The Federal Reserve delivered a 0.25% interest rate cut last week. But prospective homebuyers wishing for lower mortgage rates are likely to be disappointed. While the central bank influences home loan rates,

When the Federal Reserve lowered its benchmark interest rate by half a percentage point in September, it wasn't a particularly surprising move. At that point, the Fed was expected to make its first rate cut of the year in response to cooling inflation.