After the Fed's recent 50 basis point rate cut on September 18, you may have noticed 30-year mortgage rates going up. Confused?
The Fed Funds Rate isn't directly tied to mortgage rates—it's a short-term rate that influences things like credit cards and car loans. However, mortgage rates follow the 10-year Treasury yield, which can be impacted by investor activity.
Recently, strong job reports and stubborn inflation have pushed mortgage rates higher, despite the Fed's cut. Stay tuned for future changes as the Fed continues to adjust rates.
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