Long-term mortgage costs have risen since the Federal Reserve started cutting interest rates in September as the yield curve has steepened.

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.

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.

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 Fed cut rates for the second time this year. Learn how this impacts mortgage rates and what to expect in the coming months.

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 average 30-year mortgage rate has been above 6% for two years — and is likely to stay above that level for the foreseeable future, experts say. A combination of better-than-

Mortgage interest rates plunged in 2020 in response to a cut to the federal funds rate sparked by the pandemic. But they rose exponentially in the years that followed as inflation surged and the Federal Reserve issued a series of interest rate hikes aiming to keep it from rising further.