After plummeting earlier this week to their lowest levels since early 2023, refinance rates on 30-year, 20-year, and 15-year mortgages have all jumped higher.

In short, it's unlikely that mortgage interest rates will fall much further in September, even if that doesn't mean that you should stop monitoring the market to take advantage of minor drops.

Key Takeaways The Fed cut interest rates yesterday, which may be welcome relief for homeowners hoping to refinance their mortgages and secure lower rates.The Fed does not directly impact mortgage rates,

The Fed is set to issue its first rate cut since 2020 this week. Here's how far mortgage interest rates could then drop.