It extends an uptick in mortgage rates despite expected Federal Reserve rate cuts. Source: Freddie Mac By The New York Times By Danielle Kaye Mortgage rates jumped this week as investors processed the potential inflationary effects of President-elect Donald J.

The average rate on a 30-year mortgage in the U.S. rose for the sixth straight week, returning to its highest level since early July.

The current median interest rate is 6.99% for a 30-year fixed-rate mortgage and 6.13% for a 15-year fixed-rate mortgage

Still, many housing market experts now expect mortgage rates to stay higher for longer. Lisa Sturtevant, chief economist of Bright MLS, said she still expects rates to come down from current levels, but thinks they’ll be volatile and could stay above 6% for all of next year.

F or the second time in three months, the Federal Reserve issued a cut to its federal funds rate on Thursday. Now at a range between 4.50% to 4.75%, the rate is down 75 basis poin

The Federal Reserve reduced interest rates on Thursday, but experts say rates on home loans won't fall by the same amount. Here's why.

The Fed wants to push down the cost of borrowing money for homes, cars and other purchases. But mortgage rates aren’t determined by the Fed, they’re heavily influenced by Treasury yields, which go up and down based on economic expectations.