Why have mortgage rates risen since the Fed rate cut?
1) the Fed does not set mortgage rates. Mortgage rates more closely track the yield on the 10yr Treasury Bond. Recent economic reports have put upward pressure on the bond yields.
2) the Presidential election is less than 2 weeks away and is creating a lot of uncertainty. Expect increased volatility until mid-November when the results are finalized.
Has the recent rise in rates affected your housng plans in 2025? Comment below.
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